Northpointe Bancshares (NYSE:NPB) Hits New 12-Month Low - Here's What Happened

Key Points

• Northpointe Bancshares fell to a new 52-week low of $15.09, below its 50-day and 200-day moving averages. The stock closed at $15.37 previously and has a market capitalization of approximately $524 million.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $21.08. Zacks Research downgraded the stock to “strong sell,” while other firms maintained positive ratings.
• The company missed quarterly earnings expectations, reporting EPS of $0.60 versus the $0.68 consensus estimate. Meanwhile, CEO Charles Williams purchased 48,312 shares, while a director sold 7,500 shares under a pre-arranged trading plan.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) hit a new 52-week low during trading on Tuesday. The stock traded as low as $15.09 and last traded at $15.1590, with a volume of 206335 shares trading hands. The stock had previously closed at $15.37.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NPB. Zacks Research cut Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lowered their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Piper Sandler upped their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings raised shares of Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $21.08.

Northpointe Bancshares Price Performance

The business has a fifty day moving average of $16.97 and a 200 day moving average of $17.54. The firm has a market cap of $524.20 million, a P/E ratio of 6.56 and a beta of 0.05. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66.

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 (EPS) 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 14.99%. The business had revenue of $64.32 million during the quarter. On average, sell-side analysts anticipate that Northpointe Bancshares, Inc. will post 2.48 earnings per share for the current year.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th were paid a $0.0250 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, July 15th. Northpointe Bancshares's dividend payout ratio is 4.33%.

Insider Buying and Selling at Northpointe Bancshares

In other news, Director David Hooker sold 7,500 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the transaction, the director directly owned 10,500 shares of the company's stock, valued at $202,650. This represents a 41.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Williams bought 48,312 shares of Northpointe Bancshares stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average cost of $16.95 per share, with a total value of $818,888.40. Following the acquisition, the chief executive officer directly owned 2,390,962 shares in the company, valued at $40,526,805.90. This trade represents a 2.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On Northpointe Bancshares

Several hedge funds have recently bought and sold shares of the stock. Jacobs Asset Management LLC grew its position in shares of Northpointe Bancshares by 2.7% in the fourth quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company's stock valued at $7,970,000 after purchasing an additional 12,500 shares during the last quarter. Mendon Capital Advisors Corp lifted its holdings in Northpointe Bancshares by 86.4% during the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock worth $5,327,000 after purchasing an additional 143,010 shares during the last quarter. Bank of America Corp DE boosted its stake in Northpointe Bancshares by 126.9% in the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company's stock valued at $3,720,000 after purchasing an additional 120,554 shares during the period. Bank of New York Mellon Corp bought a new stake in Northpointe Bancshares in the 2nd quarter valued at $1,756,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Northpointe Bancshares in the 1st quarter valued at $1,515,000.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. Through its principal subsidiary, Northpointe Bank, the company provides consumer, residential mortgage and commercial banking services to individuals, families, entrepreneurs and businesses.

Northpointe Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential mortgages, home equity financing, personal loans, commercial real estate loans and other business financing.

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