Northpointe Bancshares (NYSE:NPB) Reaches New 52-Week High - Here's What Happened

Key Points

• Northpointe Bancshares reached a new 52-week high of $16.58 during trading, with a recent volume of 70,923 shares exchanging hands.
• Piper Sandler raised their price target for Northpointe Bancshares from $16.50 to $17.50 and assigned an "overweight" rating to the stock.
• The company announced a quarterly dividend of $0.025 per share, reflecting a 0.6% dividend yield, which was paid to stockholders on August 4th.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $16.58 and last traded at $16.58, with a volume of 70923 shares changing hands. The stock had previously closed at $16.19.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted 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. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Northpointe Bancshares has an average rating of "Buy" and an average target price of $17.75.

Northpointe Bancshares Stock Up 3.6%

The stock's 50 day moving average price is $14.77. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.32 and a current ratio of 1.39.

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

Northpointe Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Tuesday, July 15th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, July 15th.

Institutional Inflows and Outflows

Several 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 first quarter worth $26,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Northpointe Bancshares during the 2nd quarter worth $33,000. State of Wyoming bought a new stake in shares of Northpointe Bancshares during the 2nd quarter worth $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Northpointe Bancshares in the second quarter valued at about $79,000. Finally, New York State Common Retirement Fund bought a new position in Northpointe Bancshares in the second quarter valued at about $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.