Northpointe Bancshares (NYSE:NPB) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Northpointe Bancshares (NYSE:NPB) released its earnings results on Tuesday. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08), Zacks reports. Northpointe Bancshares had a net margin of 16.09% and a return on equity of 12.43%.

Northpointe Bancshares Stock Down 3.9%

NPB traded down $0.74 during midday trading on Tuesday, reaching $18.05. 709,148 shares of the company were exchanged, compared to its average volume of 618,629. The company has a market cap of $620.25 million and a price-to-earnings ratio of 11.50. Northpointe Bancshares has a one year low of $11.43 and a one year high of $19.22. The company’s fifty day moving average price is $17.25 and its 200 day moving average price is $16.76. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.34 and a current ratio of 1.39.

Northpointe Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 3rd. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, January 15th. Northpointe Bancshares’s payout ratio is currently 6.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler upped their target price on Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.08.

Hedge Funds Weigh In On Northpointe Bancshares

Institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares during the first quarter worth about $26,000. Goldman Sachs Group Inc. bought a new stake in shares of Northpointe Bancshares in the 1st quarter worth approximately $9,908,000. Jane Street Group LLC purchased a new position in Northpointe Bancshares in the first quarter valued at approximately $146,000. Geode Capital Management LLC increased its position in Northpointe Bancshares by 138.9% in the second quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock worth $3,220,000 after buying an additional 136,490 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Northpointe Bancshares during the 2nd quarter valued at $776,000.

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.