Northpointe Bancshares' (NPB) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Northpointe Bancshares' stock has been reaffirmed with a "sell (e+)" rating by Weiss Ratings, despite other analysts giving it varying ratings including two "Buy" recommendations.
• The company recently reported earnings of $0.57 per share, exceeding expectations, with revenue of $64.36 million for the quarter.
• Insider trading was noted, as Director David Stevens Hooker sold 65,161 shares for a total of $1.19 million, reflecting a 7.24% decrease in their position.

Northpointe Bancshares (NYSE:NPB - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of Northpointe Bancshares from $17.50 to $19.50 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Janney Montgomery Scott began coverage on shares of Northpointe Bancshares in a research note on Thursday, August 28th. They set a "neutral" rating and a $19.25 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Northpointe Bancshares has an average rating of "Hold" and an average price target of $18.92.

Northpointe Bancshares Stock Up 1.1%

Shares of NYSE:NPB opened at $16.69 on Friday. Northpointe Bancshares has a 1-year low of $11.43 and a 1-year high of $18.85. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.32 and a current ratio of 1.39. The company has a 50 day moving average price of $17.54 and a 200 day moving average price of $15.19.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its earnings results on Tuesday, October 21st. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The business had revenue of $64.36 million for the quarter, compared to the consensus estimate of $62.17 million.

Insiders Place Their Bets

In other news, Director David Stevens Hooker sold 65,161 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $18.21, for a total transaction of $1,186,581.81. Following the completion of the sale, the director directly owned 834,879 shares of the company's stock, valued at $15,203,146.59. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in Northpointe Bancshares in the first quarter valued at approximately $26,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Northpointe Bancshares in the 2nd quarter valued at $33,000. State of Wyoming acquired a new stake in shares of Northpointe Bancshares in the 2nd quarter valued at $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Northpointe Bancshares in the second quarter worth $79,000. Finally, New York State Common Retirement Fund bought a new stake in Northpointe Bancshares in the second quarter worth $97,000.

About Northpointe Bancshares

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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