Northpointe Bancshares (NYSE:NPB) Reaches New 52-Week High – Here’s Why

Northpointe Bancshares, Inc. (NYSE:NPB)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $18.85 and last traded at $18.7810, with a volume of 56972 shares. The stock had previously closed at $18.67.

Analysts Set New Price Targets

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

Northpointe Bancshares Price Performance

The company has a debt-to-equity ratio of 2.24, a current ratio of 1.39 and a quick ratio of 1.34. The firm’s 50-day moving average is $17.20 and its 200-day moving average is $16.72. The company has a market capitalization of $645.64 million and a P/E ratio of 11.96.

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

Northpointe Bancshares Announces Dividend

The firm 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 $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, January 15th. Northpointe Bancshares’s payout ratio is currently 6.37%.

Hedge Funds Weigh In On Northpointe Bancshares

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its position in 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 during the period. JPMorgan Chase & Co. grew its position in shares of Northpointe Bancshares by 118.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,408 shares of the company’s stock worth $2,108,000 after acquiring an additional 66,798 shares in the last quarter. Voleon Capital Management LP bought a new stake in shares of Northpointe Bancshares in the 3rd quarter worth approximately $648,000. PMC FIG Opportunities LLC lifted its holdings in shares of Northpointe Bancshares by 91.7% in the third quarter. PMC FIG Opportunities LLC now owns 130,505 shares of the company’s stock valued at $2,229,000 after buying an additional 62,430 shares during the period. Finally, Millennium Management LLC grew its position in Northpointe Bancshares by 462.4% during the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after purchasing an additional 307,409 shares in the last quarter.

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.