Northpointe Bancshares (NYSE:NPB) Hits New 12-Month Low - Time to Sell?

Key Points

• Northpointe Bancshares fell to a new 52-week low, trading as low as $15.40 versus a prior close of $15.91. Its shares remain below both the 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $21.08. Recent calls ranged from “strong sell” to “overweight,” while the company’s latest quarterly EPS of $0.60 missed the $0.68 consensus estimate.
• The bank declared a quarterly dividend of $0.025 per share, equivalent to a 0.6% annualized yield. CEO Charles Williams bought approximately $819,000 of stock, although a director separately 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 Wednesday . The company traded as low as $15.40 and last traded at $15.5210, with a volume of 175775 shares changing hands. The stock had previously closed at $15.91.

Analyst Ratings Changes

NPB has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 9th. Zacks Research cut shares of Northpointe Bancshares from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods cut their price target on Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.08.

Northpointe Bancshares Stock Performance

The stock has a 50 day moving average of $17.25 and a 200 day moving average of $17.61. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. The firm has a market cap of $536.58 million, a price-to-earnings ratio of 6.73 and a beta of 0.05.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%.The firm had revenue of $64.32 million for the quarter. As a group, analysts anticipate that Northpointe Bancshares, Inc. will post 2.48 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th were given a dividend of $0.025 per share. The ex-dividend date was Wednesday, July 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares's dividend payout ratio (DPR) is currently 4.33%.

Insider Buying and Selling

In other Northpointe Bancshares news, CEO Charles Williams bought 48,312 shares of Northpointe Bancshares stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $16.95 per share, with a total value of $818,888.40. Following the acquisition, the chief executive officer 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the completion of the transaction, the director owned 10,500 shares in the company, valued at approximately $202,650. The trade was a 41.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 18.30% of the company's stock.

Institutional Trading of Northpointe Bancshares

Large investors have recently bought and sold shares of the business. Mendon Capital Advisors Corp boosted its stake in shares of Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock valued at $5,327,000 after purchasing an additional 143,010 shares during the last quarter. Bank of America Corp DE lifted its holdings in Northpointe Bancshares by 126.9% in the first quarter. Bank of America Corp DE now owns 215,544 shares of the company's stock valued at $3,720,000 after buying an additional 120,554 shares during the period. Bank of New York Mellon Corp bought a new stake in Northpointe Bancshares during the second quarter valued at $1,756,000. Segall Bryant & Hamill LLC bought a new stake in shares of Northpointe Bancshares during the 1st quarter valued at about $1,515,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Northpointe Bancshares during the fourth quarter worth approximately $965,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.