Northpointe Bancshares (NYSE:NPB) Posts Earnings Results, Misses Expectations By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) released its quarterly earnings results on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08), Zacks reports. Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. The company had revenue of $64.32 million during the quarter.

Northpointe Bancshares Stock Performance

Shares of NPB opened at $18.64 on Wednesday. Northpointe Bancshares has a 1 year low of $14.11 and a 1 year high of $19.71. The stock has a market capitalization of $644.57 million and a PE ratio of 8.40. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44. The stock has a 50-day simple moving average of $18.02 and a 200-day simple moving average of $17.82.

Northpointe Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.10 annualized dividend and a yield of 0.5%. Northpointe Bancshares’s dividend payout ratio is 4.50%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NPB shares. Piper Sandler increased their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Finally, Brean Capital initiated coverage on Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target for the company. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.50.

Insider Activity at Northpointe Bancshares

In other news, CEO Charles Alan Williams acquired 25,000 shares of Northpointe Bancshares stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $17.21 per share, for a total transaction of $430,250.00. Following the acquisition, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. This trade represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total transaction of $144,750.00. Following the sale, the director directly owned 10,500 shares of the company’s stock, valued at approximately $202,650. This trade represents a 41.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,500 shares of company stock worth $410,141. 18.30% of the stock is owned by corporate insiders.

Institutional Trading of Northpointe Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares during the 1st quarter worth about $26,000. Goldman Sachs Group Inc. acquired a new position in shares of Northpointe Bancshares during the 1st quarter worth about $9,908,000. Jane Street Group LLC purchased a new position in shares of Northpointe Bancshares in the 1st quarter valued at about $146,000. Geode Capital Management LLC increased its holdings in shares of Northpointe Bancshares by 138.9% in the 2nd quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock valued at $3,220,000 after acquiring an additional 136,490 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Northpointe Bancshares during the 2nd quarter worth about $776,000.

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.