Northpointe Bancshares (NYSE:NPB) Sees Large Volume Increase - Here's What Happened

Key Points

• Northpointe Bancshares’ trading volume increased substantially, with 169,225 shares changing hands, while the stock edged up to $17.255. The company has a market capitalization of approximately $593.9 million.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $20.62 price target, despite Piper Sandler raising its target to $22 and Keefe, Bruyette & Woods lowering its target to $21.
• Northpointe reported quarterly earnings of $0.60 per share, missing estimates of $0.68, on revenue of $64.32 million. It also declared a quarterly dividend of $0.025 per share, equivalent to a 0.6% annual yield.

Shares of Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) saw unusually-strong trading volume on Monday . 169,225 shares were traded during mid-day trading, a decline of 29% from the previous session's volume of 236,940 shares.The stock last traded at $17.2550 and had previously closed at $17.19.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NPB. Piper Sandler boosted their price target on Northpointe Bancshares from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, July 2nd. Weiss Ratings restated a "sell (d)" rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital began coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They issued a "neutral" rating and a $20.25 price objective on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.62.

Northpointe Bancshares Price Performance

The stock has a market cap of $593.91 million and a price-to-earnings ratio of 7.44. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. The business's 50-day simple moving average is $18.03 and its two-hundred day simple moving average is $17.82.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. The firm had revenue of $64.32 million for the quarter. Research analysts expect that Northpointe Bancshares, Inc. will post 2.63 earnings per share for the current year.

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. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, July 15th. Northpointe Bancshares's payout ratio is 4.33%.

Insider Activity at Northpointe Bancshares

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

Institutional Trading of Northpointe Bancshares

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in Northpointe Bancshares during the 1st quarter worth $26,000. Goldman Sachs Group Inc. bought a new stake in shares of Northpointe Bancshares in the 1st quarter valued at about $9,908,000. Jane Street Group LLC acquired a new stake in shares of Northpointe Bancshares in the first quarter valued at about $146,000. Geode Capital Management LLC raised its position in shares of Northpointe Bancshares by 138.9% during the second quarter. Geode Capital Management LLC now owns 234,789 shares of the company's stock worth $3,220,000 after acquiring an additional 136,490 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Northpointe Bancshares during the second quarter worth about $776,000.

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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