Insider Buying: Northpointe Bancshares (NYSE:NPB) COO Buys $49,798.80 in Stock

Northpointe Bancshares, Inc. (NYSE:NPB) COO Joseph Long bought 3,240 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were acquired at an average cost of $15.37 per share, for a total transaction of $49,798.80. Following the purchase, the chief operating officer owned 3,240 shares of the company’s stock, valued at approximately $49,798.80. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Northpointe Bancshares Trading Up 0.1%

Shares of NYSE NPB opened at $16.20 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. The business’s 50 day moving average price is $16.14 and its 200-day moving average price is $17.36. Northpointe Bancshares, Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $19.71. The company has a market cap of $560.20 million, a price-to-earnings ratio of 7.60 and a beta of 0.16.

Northpointe Bancshares (NYSE:NPB) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.21). Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. The business had revenue of $55.92 million for the quarter. On average, sell-side analysts expect that Northpointe Bancshares, Inc. will post 1.80 earnings per share for the current year.

Northpointe Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Thursday, October 15th will be paid a $0.03 dividend. The ex-dividend date is Thursday, October 15th. This is a positive change 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 5.63%.

Institutional Trading of Northpointe Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. Mendon Capital Advisors Corp grew its holdings in Northpointe Bancshares by 86.4% during the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock worth $5,327,000 after acquiring an additional 143,010 shares in the last quarter. Bank of America Corp DE increased its position in Northpointe Bancshares by 126.9% during the 1st quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock valued at $3,720,000 after purchasing an additional 120,554 shares during the period. Bank of New York Mellon Corp purchased a new position in Northpointe Bancshares during the 2nd quarter valued at about $1,756,000. Segall Bryant & Hamill LLC bought a new stake in shares of Northpointe Bancshares in the 1st quarter valued at about $1,515,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Northpointe Bancshares by 22.3% in the 1st quarter. Hsbc Holdings PLC now owns 80,507 shares of the company’s stock valued at $1,385,000 after purchasing an additional 14,655 shares in the last quarter.

Wall Street Analysts Forecast Growth

NPB has been the subject of several research analyst reports. Zacks Research upgraded Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Keefe, Bruyette & Woods reduced their price target on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Piper Sandler reduced their price target on shares of Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Finally, Weiss Ratings upgraded shares of Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Northpointe Bancshares currently has an average rating of “Hold” and a consensus 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.