Short Interest in Northpointe Bancshares, Inc. (NYSE:NPB) Decreases By 31.9%

Key Points

• Short interest decreased 31.9% to 306,983 shares as of March 31, equal to about 1.1% of the company's stock and a days-to-cover ratio of 1.5.
• Insider activity was mixed: Director Richard Jeffery Dean sold 57,619 shares (~$1.01M) while CEO Charles Alan Williams bought 23,450 shares (a 74.6% increase); insiders have net sold 73,895 shares worth $1.3M in the last 90 days and now own 18.3% of the company.
• NPB traded near $18.81 with a market cap of roughly $649M and a PE of 8.99; the company missed quarterly EPS estimates ($0.52 vs. $0.60) and declared a $0.025 quarterly dividend (0.5% yield).

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 306,983 shares, a decrease of 31.9% from the March 15th total of 450,452 shares. Approximately 1.1% of the company's stock are sold short. Based on an average daily trading volume, of 206,609 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity

In other news, Director Richard Jeffery Dean sold 57,619 shares of Northpointe Bancshares stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $17.55, for a total value of $1,011,213.45. Following the transaction, the director owned 557,171 shares of the company's stock, valued at $9,778,351.05. The trade was a 9.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Alan Williams bought 23,450 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of $16.88 per share, with a total value of $395,836.00. Following the transaction, the chief executive officer directly owned 54,896 shares of the company's stock, valued at $926,644.48. The trade was a 74.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 73,895 shares of company stock worth $1,301,197. Corporate insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On Northpointe Bancshares

A number of institutional investors have recently bought and sold shares of NPB. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares in the 1st quarter valued at $26,000. State of Alaska Department of Revenue purchased a new position in shares of Northpointe Bancshares during the fourth quarter worth $40,000. State of Wyoming purchased a new position in shares of Northpointe Bancshares during the second quarter worth $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Northpointe Bancshares during the second quarter valued at $79,000. Finally, Federated Hermes Inc. purchased a new stake in Northpointe Bancshares in the third quarter valued at $82,000.

Northpointe Bancshares Stock Performance

NPB stock traded up $0.06 during midday trading on Tuesday, reaching $18.81. The stock had a trading volume of 56,711 shares, compared to its average volume of 305,103. The firm has a fifty day simple moving average of $17.60 and a two-hundred day simple moving average of $17.31. Northpointe Bancshares has a 52-week low of $11.43 and a 52-week high of $19.48. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.34 and a current ratio of 1.40. The stock has a market cap of $648.69 million, a PE ratio of 8.99 and a beta of 0.23.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.08). Northpointe Bancshares had a net margin of 17.70% and a return on equity of 14.00%. The firm had revenue of $65.14 million during the quarter, compared to analyst estimates of $64.70 million.

Northpointe Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Wednesday, April 15th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, April 15th. Northpointe Bancshares's dividend payout ratio is 4.78%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NPB. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. Piper Sandler upped their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an "overweight" rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of "Hold" and a consensus price target of $19.63.

About Northpointe Bancshares

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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