Northpointe Bancshares, Inc. (NYSE:NPB) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Northpointe Bancshares has a consensus “Hold” rating from six analysts, split evenly among buy, hold, and sell recommendations. The average 12-month price target is $20.63 versus a recent share price of $17.32.
• The company reported quarterly earnings of $0.60 per share, missing the $0.68 analyst consensus, while revenue totaled $64.32 million. Analysts expect full-year EPS of approximately $2.63.
• Northpointe announced a quarterly dividend of $0.025 per share, equivalent to a 0.6% annualized yield. Insider activity was mixed, with the CEO buying 25,000 shares while a director sold 7,500 shares.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) has earned a consensus recommendation of "Hold" from the six analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.6250.

Several equities research analysts have commented on the stock. Brean Capital began coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a "neutral" rating and a $20.25 price objective for the company. Piper Sandler boosted their target price on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Zacks Research lowered Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a report on Tuesday. Keefe, Bruyette & Woods decreased their price target on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Northpointe Bancshares in a report on Friday, May 29th.

Northpointe Bancshares Stock Performance

Shares of NPB stock opened at $17.32 on Thursday. The firm has a 50-day moving average of $18.03 and a 200-day moving average of $17.82. The company has a market cap of $599.10 million and a P/E ratio of 7.50. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. Northpointe Bancshares has a one year low of $14.27 and a one year high of $19.71.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. The firm had revenue of $64.32 million for the quarter. Equities research analysts forecast that Northpointe Bancshares will post 2.63 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares's dividend payout ratio (DPR) is currently 4.33%.

Insiders Place Their Bets

In related news, Director David Stevens Hooker sold 7,500 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the transaction, the director directly owned 10,500 shares of the company's stock, valued at approximately $202,650. The trade was a 41.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams purchased 25,000 shares of Northpointe Bancshares stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $17.21 per share, with a total value of $430,250.00. Following the transaction, the chief executive officer owned 2,312,650 shares of the company's stock, valued at $39,800,706.50. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 22,500 shares of company stock worth $410,141 over the last quarter. Company insiders own 18.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Northpointe Bancshares by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,841,773 shares of the company's stock worth $65,617,000 after purchasing an additional 95,953 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Northpointe Bancshares by 12.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,018,214 shares of the company's stock valued at $33,866,000 after purchasing an additional 224,110 shares during the last quarter. Vanguard Group Inc. lifted its stake in Northpointe Bancshares by 84.1% in the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company's stock valued at $18,159,000 after purchasing an additional 485,525 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Northpointe Bancshares by 6.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 760,353 shares of the company's stock valued at $12,759,000 after purchasing an additional 45,047 shares during the last quarter. Finally, Jacobs Asset Management LLC grew its holdings in Northpointe Bancshares by 2.7% during the fourth quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company's stock valued at $7,970,000 after purchasing an additional 12,500 shares during the period.

About Northpointe Bancshares

Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.

Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.

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