Northpointe Bancshares (NYSE:NPB) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Northpointe Bancshares (NYSE:NPB) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on NPB. Keefe, Bruyette & Woods cut their price objective on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a report on Friday, May 29th. Piper Sandler upped their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. 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 price objective for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.62.

Northpointe Bancshares Price Performance

Shares of NYSE:NPB opened at $17.32 on Tuesday. The firm has a 50 day moving average of $18.03 and a 200-day moving average of $17.82. Northpointe Bancshares has a 12 month low of $14.27 and a 12 month high of $19.71. The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $599.10 million and a PE ratio of 7.50.

Northpointe Bancshares (NYSE:NPB) last issued its earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The business had revenue of $64.32 million during the quarter. Northpointe Bancshares had a net margin of 17.72% and a return on equity of 15.10%. On average, equities research analysts predict that Northpointe Bancshares will post 2.63 EPS for the current fiscal year.

Northpointe Bancshares Dividend Announcement

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

Insiders Place Their Bets

In other news, Director David Stevens Hooker sold 7,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total value of $144,750.00. Following the transaction, the director directly owned 10,500 shares of the company’s stock, valued at $202,650. The trade was a 41.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $17.21 per share, with a total value of $430,250.00. Following the completion of the acquisition, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $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 have sold 22,500 shares of company stock worth $410,141 in the last ninety days. Insiders own 18.30% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Several large investors have recently modified their holdings of NPB. Boston Partners grew its holdings in Northpointe Bancshares by 1.5% in the fourth quarter. Boston Partners now owns 41,577 shares of the company’s stock worth $698,000 after purchasing an additional 634 shares during the period. Engineers Gate Manager LP grew its stake in Northpointe Bancshares by 2.0% in the fourth quarter. Engineers Gate Manager LP now owns 39,289 shares of the company’s stock valued at $659,000 after acquiring an additional 772 shares during the period. First Trust Advisors LP increased its holdings in shares of Northpointe Bancshares by 2.5% during the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company’s stock valued at $547,000 after acquiring an additional 790 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Northpointe Bancshares by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 14,236 shares of the company’s stock valued at $239,000 after acquiring an additional 1,489 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Northpointe Bancshares in the 1st quarter worth $26,000.

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.