Northpointe Bancshares (NYSE:NPB) Posts Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Q1 earnings missed: Northpointe reported $0.62 EPS vs. $0.66 expected (miss of $0.04) on $63.42 million in revenue, and the stock slipped to $18.48 on the news.
• Dividend announced: the company declared a $0.025 quarterly dividend (annualized $0.10) with a yield of 0.5% and an ex-dividend date of April 15.
• Insider selling and mixed analyst views: insiders sold 73,895 shares recently, and analysts have a consensus "Hold" rating with a $19.63 price target (Piper Sandler raised its target to $20 while Weiss Ratings reiterated a sell).

Northpointe Bancshares (NYSE:NPB - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.04), Zacks reports. The business had revenue of $63.42 million for the quarter. Northpointe Bancshares had a net margin of 17.70% and a return on equity of 14.00%.

Northpointe Bancshares Price Performance

NPB traded down $0.71 during trading on Tuesday, reaching $18.48. The stock had a trading volume of 122,659 shares, compared to its average volume of 294,843. The stock has a 50 day moving average of $17.77 and a two-hundred day moving average of $17.36. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $637.38 million, a price-to-earnings ratio of 8.84 and a beta of 0.23. Northpointe Bancshares has a 1-year low of $12.52 and a 1-year high of $19.48.

Northpointe Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Wednesday, April 15th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Northpointe Bancshares's dividend payout ratio is 4.78%.

Analysts Set New Price Targets

Several analysts recently commented on NPB shares. Piper Sandler raised their target price on Northpointe Bancshares from $19.50 to $20.00 and gave the company an "overweight" rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of "Hold" and a consensus price target of $19.63.

Insider Activity

In other news, Director Richard Jeffery Dean sold 57,619 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $17.55, for a total value of $1,011,213.45. Following the sale, the director owned 557,171 shares of the company's stock, valued at approximately $9,778,351.05. The trade was a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy M. Butler sold 9,911 shares of the company's stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $18.02, for a total value of $178,596.22. Following the completion of the sale, the executive vice president owned 6,365 shares of the company's stock, valued at approximately $114,697.30. This trade represents a 60.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 73,895 shares of company stock worth $1,301,197. 18.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northpointe Bancshares

Several large investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP bought a new position in shares of Northpointe Bancshares in the third quarter valued at $383,000. Sei Investments Co. acquired a new stake in shares of Northpointe Bancshares during the second quarter worth $356,000. Graham Capital Management L.P. purchased a new stake in shares of Northpointe Bancshares during the fourth quarter valued at $322,000. Engineers Gate Manager LP purchased a new stake in shares of Northpointe Bancshares during the second quarter valued at $236,000. Finally, MetLife Investment Management LLC boosted its position in shares of Northpointe Bancshares by 68.4% in the 4th quarter. MetLife Investment Management LLC now owns 11,871 shares of the company's stock valued at $199,000 after purchasing an additional 4,823 shares during the period.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is the bank holding company for Northpointe Bank, an FDIC-insured community bank based in Michigan. The company offers a full range of commercial and consumer banking solutions, serving retail, small business and corporate clients through both a physical branch network and digital platforms.

Northpointe Bank’s product suite includes interest-bearing checking and savings accounts, money market and certificate of deposit offerings, as well as residential mortgage lending, home equity financing and unsecured consumer loans.

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