Insider Selling: Northpointe Bancshares (NYSE:NPB) Director Sells 7,500 Shares of Stock

Northpointe Bancshares, Inc. (NYSE:NPB) Director David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $17.82, for a total value of $133,650.00. Following the completion of the transaction, the director owned 11,500 shares in the company, valued at approximately $204,930. This represents a 39.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Northpointe Bancshares Trading Down 3.9%

Shares of NPB traded down $0.69 during trading hours on Monday, hitting $17.14. The company had a trading volume of 121,196 shares, compared to its average volume of 281,794. The firm has a market cap of $591.30 million, a P/E ratio of 7.72 and a beta of 0.22. The stock’s 50 day moving average price is $17.78 and its 200 day moving average price is $17.38. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.70. Northpointe Bancshares, Inc. has a 52-week low of $12.52 and a 52-week high of $19.48.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $63.42 million during the quarter. Northpointe Bancshares had a return on equity of 14.74% and a net margin of 17.92%. On average, research analysts predict that Northpointe Bancshares, Inc. will post 2.72 EPS for the current year.

Northpointe Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Wednesday, April 15th will be issued a $0.025 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s payout ratio is currently 4.50%.

Wall Street Analysts Forecast Growth

Separately, Brean Capital started coverage on Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price objective on the stock. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Northpointe Bancshares presently has a consensus rating of “Hold” and a consensus target price of $19.83.

Institutional Trading of Northpointe Bancshares

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Northpointe Bancshares by 2.6% in 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 during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Northpointe Bancshares by 12.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,018,214 shares of the company’s stock worth $33,866,000 after purchasing an additional 224,110 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Northpointe Bancshares by 84.1% in the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after purchasing an additional 485,525 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Northpointe Bancshares by 6.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 760,353 shares of the company’s stock worth $12,759,000 after purchasing an additional 45,047 shares during the last quarter. Finally, Jacobs Asset Management LLC grew its stake in shares of Northpointe Bancshares by 2.7% in the fourth quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company’s stock worth $7,970,000 after purchasing an additional 12,500 shares during the last quarter.

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.