Northpointe Bancshares (NYSE:NPB) Given New $22.00 Price Target at Piper Sandler

Northpointe Bancshares (NYSE:NPB) had its price objective boosted by analysts at Piper Sandler from $21.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 15.06% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Brean Capital began coverage on shares of Northpointe Bancshares in a report on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 price target on the stock. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.50.

Northpointe Bancshares Trading Down 0.3%

Shares of NYSE:NPB opened at $19.12 on Thursday. The company has a market cap of $661.17 million and a P/E ratio of 8.61. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. Northpointe Bancshares has a 1 year low of $13.66 and a 1 year high of $19.56. The stock’s fifty day moving average price is $17.72 and its 200-day moving average price is $17.68.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, April 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). Northpointe Bancshares had a net margin of 17.92% and a return on equity of 14.80%. The business had revenue of $63.42 million for the quarter. Sell-side analysts expect that Northpointe Bancshares will post 2.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00. Following the completion of the sale, the director owned 11,500 shares in the company, valued at approximately $204,930. This represents a 39.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $17.21 per share, for a total transaction of $430,250.00. Following the acquisition, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. This trade represents a 1.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 15,000 shares of company stock worth $265,391. Company insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Northpointe Bancshares

A number of large investors have recently made changes to their positions in NPB. Cubist Systematic Strategies LLC purchased a new stake in shares of Northpointe Bancshares during the 1st quarter valued at about $26,000. State of Alaska Department of Revenue purchased a new stake in Northpointe Bancshares during the fourth quarter valued at approximately $40,000. State of Wyoming purchased a new stake in Northpointe Bancshares during the second quarter valued at approximately $54,000. Police & Firemen s Retirement System of New Jersey raised its position in Northpointe Bancshares by 131.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 5,524 shares of the company’s stock worth $93,000 after acquiring an additional 3,135 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Northpointe Bancshares in the second quarter worth approximately $79,000.

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.