Northpointe Bancshares (NYSE:NPB) Shares Gap Up on Analyst Upgrade

Northpointe Bancshares, Inc. (NYSE:NPB)’s share price gapped up prior to trading on Tuesday after Piper Sandler raised their price target on the stock from $19.50 to $20.00. The stock had previously closed at $17.00, but opened at $17.51. Piper Sandler currently has an overweight rating on the stock. Northpointe Bancshares shares last traded at $17.5150, with a volume of 1,498 shares trading hands.

Several other research analysts have also weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Northpointe Bancshares in a research report on Thursday, August 28th. They set a “neutral” rating and a $19.25 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 15th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.08.

Institutional Investors Weigh In On Northpointe Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Voleon Capital Management LP acquired a new position in Northpointe Bancshares in the 3rd quarter valued at $648,000. PMC FIG Opportunities LLC raised its stake in 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 purchasing an additional 62,430 shares in the last quarter. Millennium Management LLC lifted its position in Northpointe Bancshares by 462.4% during the third 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 during the period. Brevan Howard Capital Management LP acquired a new stake in Northpointe Bancshares during the third quarter worth about $174,000. Finally, Boothbay Fund Management LLC raised its position in shares of Northpointe Bancshares by 28.0% in the 3rd quarter. Boothbay Fund Management LLC now owns 202,765 shares of the company’s stock valued at $3,463,000 after buying an additional 44,315 shares in the last quarter.

Northpointe Bancshares Stock Performance

The stock’s fifty day moving average price is $16.82 and its two-hundred day moving average price is $16.21. The company has a market cap of $601.99 million and a P/E ratio of 11.16. 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 (NYSE:NPB) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $64.36 million during the quarter, compared to the consensus estimate 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 business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, October 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is currently 6.37%.

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.