Northpointe Bancshares (NYSE:NPB) Posts Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Northpointe Bancshares (NYSE:NPB) posted its earnings results on Tuesday. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21), Zacks reports. The company had revenue of $55.92 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%.

Northpointe Bancshares Stock Up 3.1%

Shares of NYSE NPB opened at $15.80 on Wednesday. The firm has a fifty day moving average of $16.38 and a 200-day moving average of $17.35. Northpointe Bancshares has a 52-week low of $14.20 and a 52-week high of $19.71. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $546.36 million, a PE ratio of 6.63 and a beta of 0.16.

Northpointe Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be issued a $0.03 dividend. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. The ex-dividend date is Thursday, October 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. Northpointe Bancshares’s dividend payout ratio (DPR) is 5.19%.

Wall Street Analysts Forecast Growth

NPB has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Zacks Research upgraded shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Piper Sandler decreased their target price on Northpointe Bancshares from $21.50 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.42.

Insider Transactions at Northpointe Bancshares

In other Northpointe Bancshares news, CEO Charles Williams bought 48,312 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average price of $16.95 per share, with a total value of $818,888.40. Following the transaction, the chief executive officer owned 2,390,962 shares in the company, valued at $40,526,805.90. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 18.30% of the company’s stock.

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 and lending services to consumers and businesses.

Northpointe Bank offers residential mortgage products, including loans for home purchases and refinancing, as well as home equity lending. Its deposit products include checking, savings, money market and certificate of deposit accounts. The bank also provides personal and commercial banking services designed to meet the borrowing, cash-management and deposit needs of individuals and businesses.

Through a combination of digital banking capabilities, mortgage lending channels and its physical banking presence, Northpointe serves customers in Michigan and markets across the United States.