Key Points
- Northpointe Bancshares director David Stevens Hooker sold 7,500 shares on July 1 at an average price of $19.30, for total proceeds of $144,750. After the sale, he still held 10,500 shares.
- The trade was made under a pre-arranged Rule 10b5-1 plan, and it follows a series of recent insider sales by Hooker in June and May.
- The company recently reported mixed fundamentals: quarterly EPS of $0.62 missed estimates, while analysts currently have a consensus Hold rating with a $20.50 price target.
Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) Director David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.30, for a total value of $144,750.00. Following the completion of the sale, the director directly owned 10,500 shares of the company's stock, valued at approximately $202,650. The trade was a 41.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Stevens Hooker also recently made the following trade(s):
- On Tuesday, June 9th, David Stevens Hooker sold 2,351 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.70, for a total transaction of $41,612.70.
- On Monday, June 8th, David Stevens Hooker sold 739 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.52, for a total transaction of $12,947.28.
- On Friday, June 5th, David Stevens Hooker sold 285 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.52, for a total value of $4,993.20.
- On Tuesday, June 2nd, David Stevens Hooker sold 4,125 shares of Northpointe Bancshares stock. The stock was sold at an average price of $17.50, for a total value of $72,187.50.
- On Friday, May 1st, David Stevens Hooker sold 7,500 shares of Northpointe Bancshares stock. The shares were sold at an average price of $17.82, for a total transaction of $133,650.00.
Northpointe Bancshares Trading Down 2.4%
NYSE:NPB opened at $18.85 on Friday. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. The business has a fifty day moving average price of $17.73 and a 200-day moving average price of $17.69. The firm has a market capitalization of $651.97 million and a price-to-earnings ratio of 8.49. Northpointe Bancshares, Inc. has a one year low of $13.66 and a one year high of $19.71.
Northpointe Bancshares (NYSE:NPB - Get Free Report) last posted 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 return on equity of 14.80% and a net margin of 17.92%.The company had revenue of $63.42 million during the quarter. Sell-side analysts forecast that Northpointe Bancshares, Inc. will post 2.72 EPS for the current year.
Northpointe Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.5%. Northpointe Bancshares's dividend payout ratio (DPR) is currently 4.50%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on NPB. Weiss Ratings restated a "sell (d)" rating on shares of Northpointe Bancshares in a research report on Friday, May 29th. Brean Capital began coverage on Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a "neutral" rating and a $20.25 target price for the company. Finally, Piper Sandler increased their target price on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Northpointe Bancshares currently has a consensus rating of "Hold" and a consensus price target of $20.50.
Read Our Latest Stock Report on NPB
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in NPB. Adage Capital Partners GP L.L.C. grew its stake in Northpointe Bancshares by 122.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company's stock valued at $23,235,000 after purchasing an additional 931,240 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Northpointe Bancshares during the 1st quarter worth about $9,908,000. Vanguard Group Inc. lifted its holdings in Northpointe Bancshares by 84.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company's stock valued at $18,159,000 after purchasing an additional 485,525 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Northpointe Bancshares by 462.4% in the third quarter. Millennium Management LLC now owns 373,891 shares of the company's stock worth $6,386,000 after buying an additional 307,409 shares in the last quarter. Finally, Mendon Capital Advisors Corp boosted its stake in Northpointe Bancshares by 86.4% during the first quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company's stock worth $5,327,000 after buying an additional 143,010 shares during the last quarter.
Northpointe Bancshares Company Profile
(
Get Free Report)
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.
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