Northpointe Bancshares (NYSE:NPB) Posts Earnings Results

Northpointe Bancshares (NYSE:NPB) issued its earnings results on Tuesday. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.21), Zacks reports. Northpointe Bancshares had a net margin of 16.27% and a return on equity of 13.88%. The firm had revenue of $55.92 million during the quarter.

Northpointe Bancshares Price Performance

Shares of NPB stock opened at $15.15 on Thursday. Northpointe Bancshares has a 1 year low of $13.80 and a 1 year high of $19.71. The firm’s 50 day moving average is $16.33 and its 200-day moving average is $17.33. The firm has a market capitalization of $523.88 million, a price-to-earnings ratio of 7.11 and a beta of 0.16. The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.66.

Northpointe Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be paid a $0.03 dividend. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 15th. Northpointe Bancshares’s payout ratio is presently 5.63%.

Wall Street Analyst Weigh In

NPB has been the subject of several analyst reports. Weiss Ratings raised shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Piper Sandler decreased their price objective on shares of Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating on the stock in a research note on Thursday. Zacks Research raised shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.25.

Insider Activity at Northpointe Bancshares

In related news, CEO Charles Williams purchased 48,312 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is owned by company insiders.

About Northpointe Bancshares

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.