Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Down 23.5% in January

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

Analyst Upgrades and Downgrades

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

Northpointe Bancshares Stock Up 1.5%

NPB traded up $0.26 during trading on Friday, hitting $17.62. The company had a trading volume of 313,063 shares, compared to its average volume of 350,382. Northpointe Bancshares has a 1-year low of $11.43 and a 1-year high of $19.48. 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 company has a market cap of $605.43 million and a PE ratio of 8.43. The business has a 50-day moving average of $17.51 and a 200-day moving average of $17.11.

Northpointe Bancshares (NYSE:NPB) last released its earnings results 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 the consensus estimate 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, January 15th. This represents a $0.10 annualized dividend and a yield of 0.6%. Northpointe Bancshares’s dividend payout ratio is presently 4.78%.

Insider Activity

In other news, CEO Charles Alan Williams bought 23,450 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was acquired at an average price of $16.88 per share, for a total transaction of $395,836.00. Following the acquisition, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Amy M. Butler sold 9,911 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $18.02, for a total transaction of $178,596.22. Following the sale, the executive vice president directly owned 6,365 shares of the company’s stock, valued at approximately $114,697.30. This trade represents a 60.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

A number of institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Northpointe Bancshares during the 1st quarter valued at approximately $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Northpointe Bancshares during the second quarter valued at $33,000. State of Alaska Department of Revenue acquired a new stake in shares of Northpointe Bancshares during the fourth quarter worth $40,000. State of Wyoming bought a new position in shares of Northpointe Bancshares in the 2nd quarter worth about $54,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Northpointe Bancshares in the 2nd quarter valued at about $79,000.

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.