Northpointe Bancshares (NYSE:NPB) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Northpointe Bancshares has been given a "sell (E+)" rating by Weiss Ratings, which was reaffirmed in a recent report to investors.
• Analysts have mixed opinions on the stock, with one firm raising the target price to $19.50, while the consensus rating remains a "Hold" with a target price of $18.92.
• Insider activity includes Director David Stevens Hooker selling over 65,000 shares of the company, indicating a significant decrease in ownership.

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

A number of other brokerages have also recently issued reports on NPB. Piper Sandler raised their target price on Northpointe Bancshares from $17.50 to $19.50 and gave the stock an "overweight" rating in a report on Wednesday. Janney Montgomery Scott began coverage on Northpointe Bancshares in a research note on Thursday, August 28th. They set a "neutral" rating and a $19.25 price objective on the stock. Two investment analysts have 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, the company presently has a consensus rating of "Hold" and a consensus price target of $18.92.

Northpointe Bancshares Stock Performance

Northpointe Bancshares stock traded down $0.30 during mid-day trading on Wednesday, hitting $17.26. 4,260 shares of the company were exchanged, compared to its average volume of 145,353. 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 business has a fifty day moving average of $17.13 and a 200 day moving average of $14.94. Northpointe Bancshares has a 1-year low of $11.43 and a 1-year high of $18.85.

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

Insider Activity

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 transaction, the director directly owned 834,879 shares in the company, valued at $15,203,146.59. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Northpointe Bancshares in the first quarter valued at approximately $47,534,000. Adage Capital Partners GP L.L.C. grew its stake in Northpointe Bancshares by 122.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company's stock valued at $23,235,000 after acquiring an additional 931,240 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Northpointe Bancshares in the first quarter valued at approximately $9,908,000. Jacobs Asset Management LLC acquired a new stake in Northpointe Bancshares in the first quarter valued at approximately $8,998,000. Finally, American Century Companies Inc. acquired a new stake in Northpointe Bancshares in the first quarter valued at approximately $7,081,000.

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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