Insider Buying: Northpointe Bancshares (NYSE:NPB) CEO Acquires $766,000.00 in Stock

Northpointe Bancshares, Inc. (NYSE:NPB) CEO Charles Williams purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were acquired at an average cost of $15.32 per share, for a total transaction of $766,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,575,962 shares of the company’s stock, valued at $39,463,737.84. This trade represents a 1.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Charles Alan Williams also recently made the following trade(s):

• On Friday, October 23rd, Charles Williams acquired 50,000 shares of Northpointe Bancshares stock. The stock was acquired at an average cost of $15.42 per share, with a total value of $771,000.00.
• On Wednesday, August 26th, Charles Williams acquired 48,312 shares of Northpointe Bancshares stock. The shares were acquired at an average price of $16.95 per share, with a total value of $818,888.40.
• On Tuesday, August 25th, Charles Williams acquired 30,000 shares of Northpointe Bancshares stock. The shares were acquired at an average price of $16.95 per share, with a total value of $508,500.00.

Northpointe Bancshares Trading Up 0.1%

NYSE:NPB opened at $16.20 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.40 and a quick ratio of 1.34. Northpointe Bancshares, Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $19.71. The stock’s 50-day moving average is $16.14 and its two-hundred day moving average is $17.36. The stock has a market cap of $560.20 million, a PE ratio of 7.60 and a beta of 0.16.

Northpointe Bancshares (NYSE:NPB) last issued its earnings results on Tuesday, October 20th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21). The business had revenue of $55.92 million during the quarter. Northpointe Bancshares had a net margin of 16.27% and a return on equity of 13.88%. As a group, equities research analysts forecast that Northpointe Bancshares, Inc. will post 1.80 earnings per share for the current fiscal year.

Northpointe Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, October 15th. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. Northpointe Bancshares’s payout ratio is presently 5.63%.

Hedge Funds Weigh In On Northpointe Bancshares

Several institutional investors have recently bought and sold shares of NPB. State of Alaska Department of Revenue lifted its position in shares of Northpointe Bancshares by 62.8% in the third quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock worth $57,000 after buying an additional 1,512 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Northpointe Bancshares during the 2nd quarter worth about $218,000. Squarepoint Ops LLC acquired a new position in shares of Northpointe Bancshares during the 2nd quarter valued at about $765,000. Pale Fire Capital SE increased its holdings in shares of Northpointe Bancshares by 29.2% during the 2nd quarter. Pale Fire Capital SE now owns 13,258 shares of the company’s stock valued at $254,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Northpointe Bancshares in the 2nd quarter valued at approximately $191,000.

Analyst Ratings Changes

A number of research firms have issued reports on NPB. Piper Sandler cut 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. Keefe, Bruyette & Woods lowered their price target on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. 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, Zacks Research raised shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Northpointe Bancshares has a consensus rating of “Hold” and an average price target of $20.25.

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.