Northpointe Bancshares (NYSE:NPB) Director Rajeev Kumar Chaudhary Buys 3,000 Shares of Company Stock

Northpointe Bancshares, Inc. (NYSE:NPB) Director Rajeev Kumar Chaudhary bought 3,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was acquired at an average cost of $15.80 per share, for a total transaction of $47,400.00. Following the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at $47,400. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Northpointe Bancshares Stock Performance

Shares of NYSE:NPB traded up $0.01 during trading on Thursday, hitting $16.20. 345,416 shares of the company traded hands, compared to its average volume of 244,182. The stock has a market capitalization of $560.23 million, a price-to-earnings ratio of 7.61 and a beta of 0.16. The business’s fifty day moving average is $16.16 and its 200-day moving average is $17.36. Northpointe Bancshares, Inc. has a one year low of $13.80 and a one year high of $19.71. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.21). Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. The company had revenue of $55.92 million during the quarter. As a group, equities analysts predict that Northpointe Bancshares, Inc. will post 1.80 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. Shareholders of record on Thursday, October 15th will be given a $0.03 dividend. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio is 5.63%.

Hedge Funds Weigh In On Northpointe Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mendon Capital Advisors Corp grew its holdings in Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after acquiring an additional 143,010 shares during the period. Bank of America Corp DE lifted its holdings in Northpointe Bancshares by 126.9% in the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock valued at $3,720,000 after acquiring an additional 120,554 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Northpointe Bancshares in the 2nd quarter valued at about $1,756,000. Segall Bryant & Hamill LLC acquired a new stake in Northpointe Bancshares in the 1st quarter valued at about $1,515,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Northpointe Bancshares during the 4th quarter valued at about $965,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NPB. Zacks Research raised shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings upgraded shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Keefe, Bruyette & Woods reduced their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Finally, Piper Sandler decreased their target price on shares of Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.25.

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 products and lending services to individuals, families, and businesses.

Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.

Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.