Northpointe Bancshares (NYSE:NPB) Hits New 52-Week Low – Should You Sell?

Northpointe Bancshares, Inc. (NYSE:NPB)’s stock price hit a new 52-week low on Tuesday. The stock traded as low as $15.09 and last traded at $15.1590, with a volume of 206335 shares trading hands. The stock had previously closed at $15.37.

Wall Street Analysts Forecast Growth

NPB has been the subject of a number of recent research reports. Zacks Research downgraded shares of Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Piper Sandler increased their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.08.

Northpointe Bancshares Trading Down 1.8%

The company has a current ratio of 1.40, a quick ratio of 1.34 and a debt-to-equity ratio of 2.66. The firm has a market cap of $503.76 million, a PE ratio of 6.31 and a beta of 0.05. The business has a fifty day moving average price of $16.85 and a 200 day moving average price of $17.49.

Northpointe Bancshares (NYSE:NPB) last posted its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). The business had revenue of $64.32 million for the quarter. Northpointe Bancshares had a return on equity of 14.99% and a net margin of 17.72%. Analysts forecast that Northpointe Bancshares, Inc. will post 2.48 EPS for the current year.

Northpointe Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.0250 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. Northpointe Bancshares’s dividend payout ratio (DPR) is presently 4.33%.

Insider Buying and Selling at Northpointe Bancshares

In related news, CEO Charles Williams bought 48,312 shares of the stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $818,888.40. Following the acquisition, the chief executive officer owned 2,390,962 shares in the company, valued at approximately $40,526,805.90. This represents a 2.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of NPB. Public Employees Retirement System of Ohio acquired a new position in Northpointe Bancshares in the first quarter valued at $172,000. Pale Fire Capital SE acquired a new stake in shares of Northpointe Bancshares during the first quarter worth about $177,000. WINTON GROUP Ltd purchased a new stake in shares of Northpointe Bancshares in the 2nd quarter valued at about $218,000. Sterling Capital Management LLC lifted its holdings in shares of Northpointe Bancshares by 1,109.6% in the 1st quarter. Sterling Capital Management LLC now owns 14,310 shares of the company’s stock valued at $247,000 after purchasing an additional 13,127 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Northpointe Bancshares by 640.0% in the 1st quarter. Strs Ohio now owns 14,800 shares of the company’s stock valued at $255,000 after purchasing an additional 12,800 shares during the period.

About Northpointe Bancshares

Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. Through its principal subsidiary, Northpointe Bank, the company provides consumer, residential mortgage and commercial banking services to individuals, families, entrepreneurs and businesses.

Northpointe Bank offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential mortgages, home equity financing, personal loans, commercial real estate loans and other business financing.