Northpointe Bancshares (NYSE:NPB) Upgraded at Zacks Research

Zacks Research upgraded shares of Northpointe Bancshares (NYSE:NPB) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks reports.

NPB has been the subject of a number of other research reports. Keefe, Bruyette & Woods reduced their target price on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Weiss Ratings raised Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Finally, Piper Sandler increased their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Northpointe Bancshares currently has a consensus rating of “Hold” and an average price target of $21.08.

Northpointe Bancshares Trading Down 0.0%

NYSE:NPB opened at $15.55 on Monday. The stock has a market cap of $537.68 million, a price-to-earnings ratio of 6.73 and a beta of 0.16. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. The company’s 50 day moving average price is $16.65 and its 200-day moving average price is $17.43. Northpointe Bancshares has a 52 week low of $14.20 and a 52 week high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The firm had revenue of $64.32 million during the quarter. Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%. On average, equities research analysts forecast that Northpointe Bancshares will post 2.48 earnings per share for the current fiscal year.

Northpointe Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 15th will be issued a $0.03 dividend. This is an increase from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio is 4.33%.

Insider Buying and Selling

In related news, CEO Charles Williams bought 48,312 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was acquired at an average price of $16.95 per share, with a total value of $818,888.40. Following the transaction, the chief executive officer owned 2,390,962 shares in the company, valued at approximately $40,526,805.90. This trade represents a 2.06% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 18.30% of the company’s stock.

Hedge Funds Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in Northpointe Bancshares during the second quarter valued at $218,000. Squarepoint Ops LLC purchased a new position in Northpointe Bancshares in the second quarter worth about $765,000. Pale Fire Capital SE boosted its position in Northpointe Bancshares by 29.2% in the second quarter. Pale Fire Capital SE now owns 13,258 shares of the company’s stock worth $254,000 after purchasing an additional 3,000 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $191,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Northpointe Bancshares during the 2nd quarter valued at about $1,756,000.

Northpointe Bancshares News Summary

Here are the key news stories impacting Northpointe Bancshares this week:

• Positive Sentiment: The board raised Northpointe’s quarterly common-stock dividend by 20%, from $0.025 to $0.03 per share. The dividend is payable November 4 to shareholders of record October 15, representing an annualized payout of $0.12 and a yield of approximately 0.8%. The increase may signal confidence in capital generation and gives investors a slightly higher cash return. Northpointe Announces Quarterly Common Stock Dividend Increase
• Neutral Sentiment: Zacks Research upgraded NPB from “Strong Sell” to “Hold.” While the change removes a strongly negative rating, “Hold” indicates limited conviction that the shares will outperform in the near term. Zacks Research Upgrades Northpointe Bancshares to Hold
• Negative Sentiment: The latest reported quarterly results remain a valuation overhang: Northpointe previously posted earnings of $0.60 per share, below the $0.68 consensus estimate. The shares also remain below their 50-day and 200-day moving averages, suggesting investors may continue to focus on earnings execution despite the dividend increase.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.