Key Points
- Director Rajeev Kumar Chaudhary bought 3,000 Northpointe Bancshares shares at $15.80 each, investing $47,400 and establishing a new position.
- Northpointe reported quarterly EPS of $0.39, missing the $0.60 consensus estimate, while revenue reached $55.92 million.
- The company increased its quarterly dividend from $0.025 to $0.03 per share, or $0.12 annually; analysts maintain a consensus “Hold” rating with an average price target of $20.25.
Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) Director Rajeev Kumar Chaudhary purchased 3,000 shares of the firm's stock in a transaction on Wednesday, October 28th. The stock was bought at an average price of $15.80 per share, with a total value of $47,400.00. Following the acquisition, the director owned 3,000 shares in the company, valued at $47,400. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Northpointe Bancshares Stock Up 0.1%
Shares of NYSE:NPB opened at $16.20 on Friday. The company has a market capitalization of $560.20 million, a price-to-earnings ratio of 7.60 and a beta of 0.16. The company has a 50 day moving average of $16.14 and a two-hundred day moving average of $17.36. Northpointe Bancshares, Inc. has a 52-week low of $13.80 and a 52-week high of $19.71. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66.
Northpointe Bancshares (NYSE:NPB - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.21). The firm had revenue of $55.92 million for the quarter. Northpointe Bancshares had a return on equity of 13.88% and a net margin of 16.27%. As a group, analysts forecast that Northpointe Bancshares, Inc. will post 1.80 earnings per share for the current fiscal year.
Northpointe Bancshares Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Thursday, October 15th will be paid a dividend of $0.03 per share. This is a positive change from Northpointe Bancshares's previous quarterly dividend of $0.0250. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.12 annualized dividend and a yield of 0.7%. Northpointe Bancshares's payout ratio is presently 5.63%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in NPB. State of Alaska Department of Revenue raised its stake in Northpointe Bancshares by 62.8% during the third quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company's stock valued at $57,000 after buying an additional 1,512 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Northpointe Bancshares in the 2nd quarter worth approximately $218,000. Squarepoint Ops LLC acquired a new position in shares of Northpointe Bancshares in the 2nd quarter worth approximately $765,000. Pale Fire Capital SE increased its holdings in shares of Northpointe Bancshares by 29.2% in the 2nd quarter. Pale Fire Capital SE now owns 13,258 shares of the company's stock valued at $254,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Northpointe Bancshares in the 2nd quarter valued at approximately $191,000.
Analysts Set New Price Targets
A number of research firms have weighed in on NPB. Keefe, Bruyette & Woods decreased their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings raised Northpointe Bancshares from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, September 9th. Piper Sandler cut their price target on Northpointe Bancshares from $20.00 to $19.50 and set an "overweight" rating on the stock in a research note on Thursday, October 22nd. Finally, Zacks Research raised Northpointe Bancshares from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Northpointe Bancshares presently has an average rating of "Hold" and an average target price of $20.25.
Get Our Latest Stock Analysis on Northpointe Bancshares
Northpointe Bancshares Company Profile
(
Get Free Report)
Northpointe Bancshares, Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates through Northpointe Bank, a financial institution focused on providing banking products and lending services to individuals, families, and businesses.
Northpointe Bank offers residential mortgage loans, including home purchase and refinancing products, as well as consumer deposit accounts such as checking, savings, and certificates of deposit. The bank also provides commercial banking services and business loans, serving customers through a combination of digital banking capabilities and banking offices.
Founded in 1999, Northpointe Bank serves customers across the United States, with a particular emphasis on mortgage lending and relationship-based banking.
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