Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Up 60.7% in May

Key Points

• Short interest in Northpointe Bancshares surged 60.7% in May, rising to 428,777 shares as of May 29. That represents about 1.5% of shares outstanding and a days-to-cover ratio of 3.8.
• Insider activity was mixed: Director David Stevens Hooker sold 7,500 shares in early May, while CEO Charles Alan Williams bought 25,000 shares later in the month. Corporate insiders still own 18.30% of the stock.
• The company recently missed earnings estimates, reporting $0.62 EPS versus the $0.66 consensus, though it also paid a quarterly dividend of $0.025 per share. Analysts currently have an average Hold rating with a $19.83 price target.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 428,777 shares, a growth of 60.7% from the May 14th total of 266,872 shares. Approximately 1.5% of the company's stock are sold short. Based on an average daily volume of 113,643 shares, the days-to-cover ratio is presently 3.8 days.

Insider Buying and Selling

In related news, Director David Stevens Hooker sold 7,500 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the completion of the transaction, the director directly owned 11,500 shares of the company's stock, valued at $204,930. This represents a 39.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $17.21 per share, with a total value of $430,250.00. Following the completion of the acquisition, the chief executive officer directly owned 2,312,650 shares of the company's stock, valued at $39,800,706.50. This represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 15,000 shares of company stock valued at $265,391 over the last ninety days. 18.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently modified their holdings of the stock. Boston Partners raised its stake in shares of Northpointe Bancshares by 1.5% during the fourth quarter. Boston Partners now owns 41,577 shares of the company's stock worth $698,000 after purchasing an additional 634 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of Northpointe Bancshares by 2.0% during the fourth quarter. Engineers Gate Manager LP now owns 39,289 shares of the company's stock worth $659,000 after purchasing an additional 772 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Northpointe Bancshares by 2.5% during the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company's stock worth $547,000 after purchasing an additional 790 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Northpointe Bancshares by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 14,236 shares of the company's stock worth $239,000 after purchasing an additional 1,489 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Northpointe Bancshares in the first quarter worth $26,000.

Northpointe Bancshares Stock Performance

NYSE NPB traded up $0.17 on Tuesday, reaching $18.01. The stock had a trading volume of 4,028 shares, compared to its average volume of 239,734. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44. Northpointe Bancshares has a 12-month low of $12.86 and a 12-month high of $19.48. The business's 50-day moving average price is $17.74 and its 200 day moving average price is $17.61. The stock has a market cap of $622.61 million, a P/E ratio of 8.11 and a beta of 0.12.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.04). Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. The firm had revenue of $63.42 million during the quarter. As a group, equities analysts expect that Northpointe Bancshares will post 2.72 earnings per share for the current year.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Wednesday, April 15th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, April 15th. Northpointe Bancshares's dividend payout ratio is 4.50%.

Analyst Ratings Changes

NPB has been the subject of a number of research analyst reports. Brean Capital initiated coverage on Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a "neutral" rating and a $20.25 price target for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Northpointe Bancshares in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.83.

Northpointe Bancshares Company Profile

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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