Northpointe Bancshares (NYSE:NPB) Shares Gap Down on Disappointing Earnings

Shares of Northpointe Bancshares, Inc. (NYSE:NPB) gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $18.06, but opened at $17.59. Northpointe Bancshares shares last traded at $17.9750, with a volume of 450,623 shares traded.

The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.08). Northpointe Bancshares had a return on equity of 13.79% and a net margin of 17.70%.The company had revenue of $65.14 million for the quarter, compared to analyst estimates of $64.70 million.

Northpointe Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 3rd. Investors of record on Thursday, January 15th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, January 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 6.37%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler raised their target price on Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Northpointe Bancshares has an average rating of “Hold” and a consensus price target of $19.08.

Institutional Investors Weigh In On Northpointe Bancshares

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Northpointe Bancshares by 2.6% during the third quarter. Wellington Management Group LLP now owns 3,841,773 shares of the company’s stock worth $65,617,000 after purchasing an additional 95,953 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Northpointe Bancshares by 122.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after purchasing an additional 931,240 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Northpointe Bancshares by 84.1% during the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after buying an additional 485,525 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Northpointe Bancshares in the first quarter valued at about $9,908,000. Finally, Millennium Management LLC lifted its stake in shares of Northpointe Bancshares by 462.4% in the third quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after buying an additional 307,409 shares in the last quarter.

Northpointe Bancshares Trading Up 0.4%

The stock has a market capitalization of $623.13 million and a PE ratio of 8.67. The company’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $16.80. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34.

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.