Northpointe Bancshares (NYSE:NPB) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) released its earnings results on Tuesday. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08), Zacks reports. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. The firm had revenue of $64.32 million for the quarter.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock opened at $16.95 on Thursday. The stock has a market capitalization of $585.96 million and a price-to-earnings ratio of 7.34. Northpointe Bancshares has a 52-week low of $14.11 and a 52-week high of $19.71. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.38 and a current ratio of 1.44. The stock’s 50 day moving average price is $18.02 and its two-hundred day moving average price is $17.82.

Northpointe Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, July 15th. Northpointe Bancshares’s dividend payout ratio is presently 4.33%.

Wall Street Analysts Forecast Growth

NPB has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods lowered their target price on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Finally, Brean Capital began coverage on shares of Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.62.

Insider Buying and Selling at Northpointe Bancshares

In other Northpointe Bancshares news, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.30, for a total value of $144,750.00. Following the completion of the sale, the director directly owned 10,500 shares in the company, valued at approximately $202,650. This trade represents a 41.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $17.21 per share, with a total value of $430,250.00. Following the completion of the purchase, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at approximately $39,800,706.50. This represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 22,500 shares of company stock valued at $410,141 in the last quarter. 18.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in Northpointe Bancshares in the first quarter worth approximately $26,000. State of Wyoming bought a new stake in shares of Northpointe Bancshares during the second quarter valued at approximately $54,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Northpointe Bancshares by 131.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock valued at $93,000 after acquiring an additional 3,135 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Northpointe Bancshares during the second quarter worth approximately $79,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Northpointe Bancshares during the second quarter worth approximately $97,000.

About Northpointe Bancshares

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.