Northpointe Bancshares (NYSE:NPB) Sees Strong Trading Volume – Here’s Why

Northpointe Bancshares, Inc. (NYSE:NPB) shares saw unusually-strong trading volume on Monday . Approximately 202,082 shares were traded during mid-day trading, an increase of 128% from the previous session’s volume of 88,749 shares.The stock last traded at $17.1450 and had previously closed at $16.67.

Analyst Ratings Changes

A number of research analysts recently weighed in on NPB shares. Piper Sandler upped their price objective on Northpointe Bancshares from $19.50 to $20.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Northpointe Bancshares has an average rating of “Hold” and a consensus price target of $19.08.

Northpointe Bancshares Trading Up 2.8%

The firm has a market cap of $588.76 million and a PE ratio of 10.91. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34. The business has a 50-day moving average price of $16.86 and a two-hundred day moving average price of $16.45.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $64.36 million for the quarter, compared to analysts’ expectations of $62.17 million. Northpointe Bancshares had a net margin of 16.09% and a return on equity of 12.43%.

Institutional Investors Weigh In On Northpointe Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of NPB. Wellington Management Group LLP increased its position in Northpointe Bancshares by 2.6% during the third quarter. Wellington Management Group LLP now owns 3,841,773 shares of the company’s stock worth $65,617,000 after buying an additional 95,953 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Northpointe Bancshares by 122.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock valued at $23,235,000 after acquiring an additional 931,240 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Northpointe Bancshares by 84.1% during the third quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock valued at $18,159,000 after acquiring an additional 485,525 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Northpointe Bancshares during the 1st quarter worth about $9,908,000. Finally, Millennium Management LLC raised its stake in Northpointe Bancshares by 462.4% in the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock valued at $6,386,000 after purchasing an additional 307,409 shares during the last quarter.

Northpointe Bancshares Company Profile

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.