Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Update

Key Points

• Short interest surged 37.8% to 450,452 shares as of March 13, representing about 1.6% of the company's stock and a short-interest ratio of 1.9 days.
• Insider activity was notable: CEO Charles Alan Williams bought 23,450 shares at about $16.88 (a 74.6% increase in his position) while a director sold 57,619 shares; insiders have net sold 73,895 shares in the last 90 days and now own 18.4% of the company.
• Northpointe missed quarterly EPS expectations ($0.52 vs. $0.60), the stock traded at $16.91 (down 1.7%), has a market cap of ~$581M, pays a $0.10 annualized dividend (0.6% yield), and carries an average analyst target of $19.63.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 450,452 shares, an increase of 37.8% from the February 26th total of 326,836 shares. Based on an average daily trading volume, of 235,249 shares, the short-interest ratio is currently 1.9 days. Approximately 1.6% of the company's stock are sold short.

Northpointe Bancshares Stock Down 1.7%

NPB stock traded down $0.30 during trading on Friday, hitting $16.91. 90,563 shares of the stock traded hands, compared to its average volume of 232,559. The stock has a market cap of $581.16 million and a price-to-earnings ratio of 8.09. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34. Northpointe Bancshares has a 1 year low of $11.43 and a 1 year high of $19.48. The firm's 50 day moving average is $17.63 and its two-hundred day moving average is $17.34.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its earnings results on Tuesday, January 20th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.08). Northpointe Bancshares had a return on equity of 13.79% and a net margin of 17.70%.The firm had revenue of $65.14 million during the quarter, compared to analysts' expectations of $64.70 million.

Northpointe Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 3rd. Investors of record on Thursday, January 15th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, January 15th. Northpointe Bancshares's payout ratio is presently 4.78%.

Insider Activity

In other Northpointe Bancshares news, CEO Charles Alan Williams purchased 23,450 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $16.88 per share, with a total value of $395,836.00. Following the transaction, the chief executive officer directly owned 54,896 shares in the company, valued at approximately $926,644.48. The trade was a 74.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Jeffery Dean sold 57,619 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $17.55, for a total transaction of $1,011,213.45. Following the sale, the director directly owned 557,171 shares in the company, valued at $9,778,351.05. The trade was a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 73,895 shares of company stock worth $1,301,197. Corporate insiders own 18.40% of the company's stock.

Institutional Trading of Northpointe Bancshares

Several institutional investors have recently added to or reduced their stakes in NPB. Mission Wealth Management LP purchased a new position in shares of Northpointe Bancshares in the third quarter worth $3,091,000. Algebris UK Ltd. bought a new stake in Northpointe Bancshares in the 3rd quarter worth about $4,447,000. Boston Partners increased its holdings in Northpointe Bancshares by 23.0% in the 2nd quarter. Boston Partners now owns 38,684 shares of the company's stock worth $530,000 after buying an additional 7,241 shares in the last quarter. Boothbay Fund Management LLC raised its position in Northpointe Bancshares by 28.0% in the 3rd quarter. Boothbay Fund Management LLC now owns 202,765 shares of the company's stock worth $3,463,000 after buying an additional 44,315 shares during the last quarter. Finally, Jacobs Asset Management LLC lifted its stake in Northpointe Bancshares by 2.7% during the 4th quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company's stock valued at $7,970,000 after acquiring an additional 12,500 shares during the period.

Wall Street Analysts Forecast Growth

NPB has been the topic of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. Piper Sandler lifted their price objective on Northpointe Bancshares from $19.50 to $20.00 and gave the company an "overweight" rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Northpointe Bancshares currently has an average rating of "Hold" and an average target price of $19.63.

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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