Northpointe Bancshares (NYSE:NPB) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• Northpointe Bancshares reported quarterly EPS of $0.60, coming in $0.08 below Wall Street expectations of $0.68. The company posted a return on equity of 14.80% and a net margin of 17.92%.
• The stock was down 0.5% to $18.64 in midday trading after the earnings release, with trading volume below its average. Northpointe has a market cap of about $644.6 million and a P/E ratio of 8.40.
• The company also announced a quarterly dividend of $0.025 per share, payable August 4, implying an annualized yield of 0.5%. Analyst sentiment remains mixed, with a consensus rating of Hold and an average target price of $20.50.

Northpointe Bancshares (NYSE:NPB - Get Free Report) issued its earnings results on Tuesday. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08), Zacks reports. Northpointe Bancshares had a return on equity of 14.80% and a net margin of 17.92%.

Northpointe Bancshares Trading Down 0.5%

Shares of NYSE NPB traded down $0.09 during midday trading on Tuesday, reaching $18.64. 131,689 shares of the stock were exchanged, compared to its average volume of 235,301. The company has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $17.80. The stock has a market capitalization of $644.57 million and a P/E ratio of 8.40. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44. Northpointe Bancshares has a twelve month low of $14.11 and a twelve month high of $19.71.

Northpointe Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.5%. Northpointe Bancshares's dividend payout ratio (DPR) is currently 4.50%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NPB shares. Piper Sandler lifted their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. Weiss Ratings restated a "sell (d)" rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Finally, Brean Capital started coverage on Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a "neutral" rating and a $20.25 target price for the company. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $20.50.

Insider Buying and Selling

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00. Following the completion of the sale, the director owned 11,500 shares of the company's stock, valued at $204,930. This trade represents a 39.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $17.21 per share, with a total value of $430,250.00. Following the purchase, the chief executive officer owned 2,312,650 shares of the company's stock, valued at $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 22,500 shares of company stock worth $410,141 over the last quarter. 18.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northpointe Bancshares

A number of hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares in the 1st quarter valued at about $26,000. State of Wyoming purchased a new position in Northpointe Bancshares during the second quarter worth about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Northpointe Bancshares during the second quarter worth about $79,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Northpointe Bancshares by 131.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company's stock valued at $93,000 after acquiring an additional 3,135 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Northpointe Bancshares during the second quarter valued at about $97,000.

About Northpointe Bancshares

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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