Northpointe Bancshares (NYSE:NPB) Sets New 52-Week High - Should You Buy?

Key Points

• Northpointe Bancshares reached a new 52-week high of $17.96 during trading, closing at $17.90, with a trading volume of 186,607 shares.
• Analysts have set a price target range for NPB, with a new average target of $18.25 and ratings varying from "Buy" to "Hold".
• The company has reported an earnings per share of $0.51 for the latest quarter, exceeding revenue expectations with $58.96 million.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.96 and last traded at $17.90, with a volume of 186607 shares trading hands. The stock had previously closed at $17.82.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Janney Montgomery Scott began coverage on shares of Northpointe Bancshares in a research note on Thursday, August 28th. They issued a "neutral" rating and a $19.25 price target for the company. Piper Sandler raised 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

Northpointe Bancshares Stock Up 0.9%

The stock has a 50 day simple moving average of $15.67 and a 200-day simple moving average of $14.36. 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 earnings per share for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $58.96 million during the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, July 15th.

Hedge Funds Weigh In On Northpointe Bancshares

A number of institutional investors have recently bought and sold shares of NPB. Cubist Systematic Strategies LLC purchased a new position in Northpointe Bancshares during the first quarter valued at $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Northpointe Bancshares during the 2nd quarter worth approximately $33,000. State of Wyoming purchased a new position in Northpointe Bancshares during the second quarter valued at approximately $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Northpointe Bancshares in the second quarter worth approximately $79,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Northpointe Bancshares in the second quarter worth $97,000.

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.