Northpointe Bancshares (NYSE:NPB) Given New $21.00 Price Target at Keefe, Bruyette & Woods

Northpointe Bancshares (NYSE:NPB) had its target price cut by Keefe, Bruyette & Woods from $22.00 to $21.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

NPB has been the topic of a number of other reports. Brean Capital started coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Finally, Piper Sandler increased their price target on Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.62.

Northpointe Bancshares Trading Up 1.9%

NYSE:NPB opened at $17.23 on Thursday. The company has a market cap of $595.71 million and a PE ratio of 7.46. The business’s 50 day moving average is $18.02 and its two-hundred day moving average is $17.82. The company has a quick ratio of 1.38, a current ratio of 1.44 and a debt-to-equity ratio of 2.96. Northpointe Bancshares has a 52 week low of $14.25 and a 52 week high of $19.71.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings results 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). The firm had revenue of $64.32 million for the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. On average, analysts predict that Northpointe Bancshares will post 2.72 EPS for the current year.

Northpointe Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.10 annualized dividend and a yield of 0.6%. Northpointe Bancshares’s payout ratio is presently 4.33%.

Insiders Place Their Bets

In related news, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the transaction, the chief executive officer directly owned 2,312,650 shares of the company’s stock, valued at approximately $39,800,706.50. This represents a 1.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $17.82, for a total transaction of $133,650.00. Following the transaction, the director directly owned 11,500 shares in the company, valued at approximately $204,930. The trade was a 39.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,500 shares of company stock valued at $410,141 in the last quarter. 18.30% of the stock is currently owned by insiders.

Institutional Trading of Northpointe Bancshares

A number of institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Northpointe Bancshares during the first quarter valued at approximately $26,000. State of Alaska Department of Revenue bought a new position in Northpointe Bancshares during the 4th quarter valued at $40,000. State of Wyoming bought a new position in Northpointe Bancshares during the 2nd quarter valued at $54,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Northpointe Bancshares by 131.2% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock valued at $93,000 after purchasing an additional 3,135 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Northpointe Bancshares in the 2nd quarter worth $79,000.

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.