Keefe, Bruyette & Woods Lowers Northpointe Bancshares (NYSE:NPB) Price Target to $21.00

Northpointe Bancshares (NYSE:NPB) had its target price cut by analysts at Keefe, Bruyette & Woods from $22.00 to $21.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 23.93% from the stock’s current price.

Several other research firms have also issued reports on NPB. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital initiated coverage on shares of Northpointe Bancshares in a research report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price objective for the company. Finally, Piper Sandler increased their target price on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Two equities 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 company’s stock. Based on data from MarketBeat.com, Northpointe Bancshares currently has an average rating of “Hold” and an average target price of $20.62.

Northpointe Bancshares Trading Down 9.4%

Shares of Northpointe Bancshares stock opened at $16.95 on Thursday. The company’s fifty day simple moving average is $18.02 and its 200-day simple moving average is $17.82. The company has a market cap of $585.96 million and a price-to-earnings ratio of 7.34. The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 2.96. Northpointe Bancshares has a 1 year low of $14.11 and a 1 year high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The company had revenue of $64.32 million for the quarter. Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%. As a group, sell-side analysts expect that Northpointe Bancshares will post 2.72 EPS for the current year.

Insider Buying and Selling at Northpointe Bancshares

In other news, Director David Stevens Hooker sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $17.82, for a total transaction of $133,650.00. Following the completion of the transaction, the director directly owned 11,500 shares of the company’s stock, valued at approximately $204,930. This trade represents a 39.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the completion of the transaction, the chief executive officer owned 2,312,650 shares in the company, valued at $39,800,706.50. This represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 22,500 shares of company stock valued at $410,141. 18.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Northpointe Bancshares by 2.6% during the third quarter. Wellington Management Group LLP now owns 3,841,773 shares of the company’s stock worth $65,617,000 after purchasing an additional 95,953 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Northpointe Bancshares by 12.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,018,214 shares of the company’s stock valued at $33,866,000 after purchasing an additional 224,110 shares during the period. Vanguard Group Inc. grew its stake in shares of Northpointe Bancshares by 84.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock valued at $18,159,000 after purchasing an additional 485,525 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Northpointe Bancshares by 6.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 760,353 shares of the company’s stock worth $12,759,000 after buying an additional 45,047 shares in the last quarter. Finally, Jacobs Asset Management LLC raised its holdings in shares of Northpointe Bancshares by 2.7% in the 4th quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company’s stock worth $7,970,000 after buying an additional 12,500 shares in the last quarter.

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.