Northpointe Bancshares' (NYSE:NPB - Get Free Report) lock-up period is set to end on Wednesday, August 13th. Northpointe Bancshares had issued 10,420,000 shares in its public offering on February 14th. The total size of the offering was $151,090,000 based on an initial share price of $14.50. After the expiration of Northpointe Bancshares' lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Analyst Ratings Changes
Separately, Piper Sandler increased their target price on shares of Northpointe Bancshares from $16.50 to $17.50 and gave the stock an "overweight" rating in a report on Monday, July 28th.
Get Our Latest Analysis on NPB
Northpointe Bancshares Stock Up 2.1%
Shares of NPB traded up $0.30 during trading hours on Friday, reaching $14.83. 91,415 shares of the stock traded hands, compared to its average volume of 136,607. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.43 and a current ratio of 1.48. The company's 50-day simple moving average is $14.17. Northpointe Bancshares has a 52-week low of $11.43 and a 52-week high of $15.50.
Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $58.96 million during the quarter, compared to analysts' expectations of $56.92 million.
Northpointe Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Tuesday, July 15th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, July 15th.
Hedge Funds Weigh In On Northpointe Bancshares
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zhang Financial LLC bought a new stake in Northpointe Bancshares in the 2nd quarter valued at $1,384,000. Mendon Capital Advisors Corp bought a new stake in shares of Northpointe Bancshares in the first quarter worth about $3,077,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Northpointe Bancshares in the first quarter worth about $11,025,000. Curi RMB Capital LLC bought a new position in Northpointe Bancshares during the first quarter valued at approximately $2,889,000. Finally, EJF Capital LLC purchased a new position in Northpointe Bancshares during the 1st quarter valued at approximately $3,739,000.
About Northpointe Bancshares
(
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Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.
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