Northpointe Bancshares, Inc. (NYSE:NPB) Sees Significant Decline in Short Interest

Northpointe Bancshares, Inc. (NYSE:NPB) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 377,234 shares, a decrease of 23.5% from the January 15th total of 492,976 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 482,191 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 482,191 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler raised their target price on Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has issued 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 an average price target of $19.08.

Northpointe Bancshares Stock Performance

Northpointe Bancshares stock traded up $0.26 during mid-day trading on Friday, hitting $17.62. 313,063 shares of the company’s stock traded hands, compared to its average volume of 350,382. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. Northpointe Bancshares has a one year low of $11.43 and a one year high of $19.48. The firm has a 50 day moving average price of $17.51 and a 200 day moving average price of $17.11. The company has a market cap of $605.43 million and a PE ratio of 8.43.

Northpointe Bancshares (NYSE:NPB) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.08). The company had revenue of $65.14 million during the quarter, compared to analyst estimates of $64.70 million. Northpointe Bancshares had a return on equity of 13.79% and a net margin of 17.70%.

Northpointe Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 3rd. Stockholders of record on Thursday, January 15th were issued a $0.025 dividend. The ex-dividend date was Thursday, January 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Northpointe Bancshares’s dividend payout ratio (DPR) is 4.78%.

Insider Transactions at Northpointe Bancshares

In related news, CEO Charles Alan Williams purchased 23,450 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average cost of $16.88 per share, for a total transaction of $395,836.00. Following the transaction, the chief executive officer owned 54,896 shares of the company’s stock, valued at $926,644.48. This trade represents a 74.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Amy M. Butler sold 9,911 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $18.02, for a total value of $178,596.22. Following the transaction, the executive vice president owned 6,365 shares of the company’s stock, valued at $114,697.30. This represents a 60.89% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPB. Boston Partners boosted its stake in Northpointe Bancshares by 1.5% during the 4th quarter. Boston Partners now owns 41,577 shares of the company’s stock valued at $698,000 after purchasing an additional 634 shares in the last quarter. First Trust Advisors LP grew its holdings in Northpointe Bancshares by 2.5% during the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company’s stock worth $547,000 after acquiring an additional 790 shares during the period. SG Americas Securities LLC grew its holdings in Northpointe Bancshares by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 14,236 shares of the company’s stock worth $239,000 after acquiring an additional 1,489 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Northpointe Bancshares in the first quarter worth about $26,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Northpointe Bancshares in the 2nd quarter valued at about $33,000.

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.