Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Down 31.8% in December

Northpointe Bancshares, Inc. (NYSE:NPB) saw a large decrease in short interest in December. As of December 15th, there was short interest totaling 320,027 shares, a decrease of 31.8% from the November 30th total of 469,140 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 283,451 shares, the days-to-cover ratio is presently 1.1 days. Based on an average trading volume of 283,451 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.1% of the shares of the company are short sold.

Northpointe Bancshares Price Performance

NYSE NPB traded down $0.08 during trading hours on Tuesday, reaching $16.91. The company’s stock had a trading volume of 143,107 shares, compared to its average volume of 344,430. Northpointe Bancshares has a 1 year low of $11.43 and a 1 year high of $18.85. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $581.20 million and a price-to-earnings ratio of 10.77. The firm’s 50-day moving average price is $16.85 and its 200-day moving average price is $16.38.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, October 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Northpointe Bancshares had a net margin of 16.09% and a return on equity of 12.43%. The firm had revenue of $64.36 million for the quarter, compared to analysts’ expectations of $62.17 million.

Northpointe Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th were paid a $0.025 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $0.10 annualized dividend and a yield of 0.6%. Northpointe Bancshares’s payout ratio is presently 6.37%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares in the first quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Northpointe Bancshares during the 2nd quarter valued at approximately $33,000. State of Wyoming bought a new stake in Northpointe Bancshares in the 2nd quarter worth approximately $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Northpointe Bancshares during the 2nd quarter worth approximately $79,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Northpointe Bancshares during the 3rd quarter worth approximately $82,000.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday. Piper Sandler raised their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.08.

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.