Northpointe Bancshares, Inc.'s (NYSE:NPB) Lock-Up Period Set To End on August 13th

Key Points

• Lock-Up Period Expiration: Northpointe Bancshares' lock-up period will end on August 13th, allowing major shareholders and company insiders to sell their shares for the first time since the IPO.
• Analyst Price Target Increase: Piper Sandler has raised its price target on Northpointe Bancshares from $16.50 to $17.50, maintaining an "overweight" rating for the company.
• Recent Dividend Announcement: The company declared a quarterly dividend of $0.025 per share, translating to an annual yield of 0.7%, paid to investors on August 4th.

Northpointe Bancshares' (NYSE:NPB - Get Free Report) lock-up period is set to expire on Wednesday, August 13th. Northpointe Bancshares had issued 10,420,000 shares in its initial 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 the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price target on Northpointe Bancshares from $16.50 to $17.50 and gave the company an "overweight" rating in a research note on Monday, July 28th.

Northpointe Bancshares Stock Up 0.5%

Shares of NPB opened at $15.01 on Wednesday. Northpointe Bancshares has a 12 month low of $11.43 and a 12 month high of $15.50. The stock's 50-day moving average is $14.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.43 and a current ratio of 1.48.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $58.96 million for the quarter, compared to analyst estimates of $56.92 million.

Northpointe Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Tuesday, July 15th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, July 15th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $26,000. Jane Street Group LLC bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $146,000. Boston Partners bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $454,000. Charles Schwab Investment Management Inc. bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $829,000. Finally, Persistent Asset Partners Ltd bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $941,000.

Northpointe Bancshares Company Profile

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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