Northpointe Bancshares (NYSE:NPB) Sets New 1-Year High - Should You Buy?

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.

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 traded. The stock had previously closed at $18.65.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on Northpointe Bancshares from $16.50 to $17.50 and gave the company an "overweight" rating in a research report on Monday, July 28th. Janney Montgomery Scott started coverage on Northpointe Bancshares in a research report on Thursday, August 28th. They set a "neutral" rating and a $19.25 price target for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.25.

Northpointe Bancshares Stock Down 4.1%

The business has a fifty day simple moving average of $15.67 and a 200-day simple moving average of $14.36. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.16.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued 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 company had revenue of $58.96 million for the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Tuesday, July 15th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, July 15th.

Institutional Investors Weigh In On Northpointe Bancshares

Several large investors have recently bought and sold shares of NPB. Cubist Systematic Strategies LLC purchased a new position in shares of Northpointe Bancshares in the 1st quarter worth $26,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $33,000. State of Wyoming purchased a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $79,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $97,000.

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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