Northpointe Bancshares (NYSE:NPB) Sets New 52-Week High - Here's Why

Key Points

• Northpointe Bancshares (NYSE:NPB) reached a new 52-week high of $18.78, closing at $17.79 after a trading volume of 88,704 shares.
• Analysts have a "Moderate Buy" consensus on the stock with an average price target of $18.25, while Piper Sandler recently raised their target from $16.50 to $17.50.
• The company reported earnings of $0.51 per share for the last quarter, meeting expectations, along with revenues of $58.96 million, surpassing the consensus estimate.

Shares of Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $18.78 and last traded at $17.79, with a volume of 88704 shares. The stock had previously closed at $18.65.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Janney Montgomery Scott assumed coverage on Northpointe Bancshares in a report on Thursday, August 28th. They set a "neutral" rating and a $19.25 target price on the stock. Piper Sandler increased their target price on 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 given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.25.

Northpointe Bancshares Stock Performance

The company has a debt-to-equity ratio of 2.16, a current ratio of 1.39 and a quick ratio of 1.32. The stock has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $14.49.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.51 EPS for the quarter, meeting analysts' consensus estimates of $0.51. The firm had revenue of $58.96 million during the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 4th. Stockholders of record on Tuesday, July 15th were paid a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $829,000. Jacobs Asset Management LLC acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $8,998,000. EJF Capital LLC acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $3,739,000. Boston Partners acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $454,000. Finally, Wellington Management Group LLP acquired a new position in shares of Northpointe Bancshares in the 1st quarter valued at $47,534,000.

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.