Insider Buying: Northpointe Bancshares (NYSE:NPB) Director Buys $184,800.00 in Stock

Northpointe Bancshares, Inc. (NYSE:NPB) Director Carrie Boer purchased 12,000 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were purchased at an average cost of $15.40 per share, with a total value of $184,800.00. Following the acquisition, the director owned 12,000 shares in the company, valued at $184,800. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Northpointe Bancshares Price Performance

Shares of NPB stock opened at $16.20 on Friday. The business has a fifty day simple moving average of $16.14 and a 200 day simple moving average of $17.36. Northpointe Bancshares, Inc. has a twelve month low of $13.80 and a twelve month 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. The company has a market cap of $560.20 million, a P/E ratio of 7.60 and a beta of 0.16.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter. On average, sell-side analysts forecast that Northpointe Bancshares, Inc. will post 1.80 EPS for the current fiscal year.

Northpointe Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.7%. This is an increase from Northpointe Bancshares’s previous quarterly dividend of $0.0250. The ex-dividend date is Thursday, October 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is presently 5.63%.

Analysts Set New Price Targets

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

Institutional Trading of Northpointe Bancshares

A number of institutional investors have recently made changes to their positions in NPB. State of Alaska Department of Revenue grew its holdings in Northpointe Bancshares by 62.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock worth $57,000 after acquiring an additional 1,512 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Northpointe Bancshares in the first quarter worth $172,000. Pale Fire Capital SE purchased a new position in Northpointe Bancshares during the 1st quarter valued at about $177,000. WINTON GROUP Ltd purchased a new stake in shares of Northpointe Bancshares in the 2nd quarter worth approximately $218,000. Finally, Sterling Capital Management LLC raised its holdings in Northpointe Bancshares by 1,109.6% in the first quarter. Sterling Capital Management LLC now owns 14,310 shares of the company’s stock worth $247,000 after buying an additional 13,127 shares during the last quarter.

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 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.