Short Interest in Northpointe Bancshares, Inc. (NYSE:NPB) Increases By 37.8%

Northpointe Bancshares, Inc. (NYSE:NPB) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 450,452 shares, an increase of 37.8% from the February 26th total of 326,836 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 235,249 shares, the days-to-cover ratio is presently 1.9 days.

Insider Buying and Selling at Northpointe Bancshares

In related news, EVP Amy M. Butler sold 6,365 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $17.50, for a total transaction of $111,387.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Jeffery Dean sold 57,619 shares of Northpointe Bancshares stock in a transaction dated 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 completion of the transaction, the director owned 557,171 shares in the company, valued at approximately $9,778,351.05. This represents a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 73,895 shares of company stock valued at $1,301,197. 18.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northpointe Bancshares

Several large investors have recently modified their holdings of NPB. Boston Partners lifted its holdings in shares of Northpointe Bancshares by 1.5% during the fourth quarter. Boston Partners now owns 41,577 shares of the company’s stock worth $698,000 after purchasing an additional 634 shares during the period. Engineers Gate Manager LP increased its holdings in Northpointe Bancshares by 2.0% in the fourth quarter. Engineers Gate Manager LP now owns 39,289 shares of the company’s stock valued at $659,000 after purchasing an additional 772 shares during the period. First Trust Advisors LP increased its holdings in Northpointe Bancshares by 2.5% in the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company’s stock valued at $547,000 after purchasing an additional 790 shares during the period. SG Americas Securities LLC raised its position in Northpointe Bancshares by 11.7% during the 4th quarter. SG Americas Securities LLC now owns 14,236 shares of the company’s stock worth $239,000 after purchasing an additional 1,489 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Northpointe Bancshares during the 1st quarter worth $26,000.

Analysts Set New Price Targets

Several brokerages recently commented on NPB. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Piper Sandler boosted their target price on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.63.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock opened at $16.96 on Tuesday. The stock has a 50-day moving average price of $17.59 and a two-hundred day moving average price of $17.33. Northpointe Bancshares has a 12 month low of $11.43 and a 12 month high of $19.48. The company has a market capitalization of $582.74 million and a PE ratio of 8.11. The company has a current ratio of 1.39, a quick ratio of 1.34 and a debt-to-equity ratio of 2.24.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.52 earnings per share 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 firm had revenue of $65.14 million for the quarter, compared to the consensus estimate of $64.70 million.

Northpointe Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, January 15th. Northpointe Bancshares’s payout ratio is presently 4.78%.

Northpointe Bancshares Company Profile

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.