Northpointe Bancshares (NYSE:NPB) Price Target Raised to $17.50

Key Points

• The price target for Northpointe Bancshares (NYSE:NPB) was raised from $16.50 to $17.50 by Piper Sandler, indicating a potential upside of 18.40% from its previous close.
• Northpointe Bancshares reported earnings of $0.51 per share for the last quarter, meeting analyst estimates, with revenues of $58.96 million surpassing expectations.
• Multiple hedge funds, including Charles Schwab Investment Management and Persistent Asset Partners Ltd., have recently made significant investments in Northpointe Bancshares during the first quarter.

Northpointe Bancshares (NYSE:NPB - Get Free Report) had its target price lifted by equities researchers at Piper Sandler from $16.50 to $17.50 in a report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 18.40% from the stock's previous close.

Northpointe Bancshares Trading Up 1.4%

NPB stock traded up $0.20 during trading on Monday, reaching $14.78. 10,895 shares of the company's stock were exchanged, compared to its average volume of 133,571. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.43 and a current ratio of 1.48. Northpointe Bancshares has a 1-year low of $11.43 and a 1-year high of $15.50. The company has a fifty day simple moving average of $13.92.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NPB. Cubist Systematic Strategies LLC bought a new position in shares of Northpointe Bancshares in the 1st quarter worth $26,000. Jane Street Group LLC bought a new position in Northpointe Bancshares during the first quarter worth about $146,000. Boston Partners bought a new position in Northpointe Bancshares during the first quarter worth about $454,000. Charles Schwab Investment Management Inc. bought a new position in Northpointe Bancshares during the first quarter worth about $829,000. Finally, Persistent Asset Partners Ltd bought a new position in Northpointe Bancshares during the first quarter worth about $941,000.

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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