Northpointe Bancshares (NYSE:NPB) Shares Gap Down Following Weak Earnings

Northpointe Bancshares, Inc. (NYSE:NPB) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $18.06, but opened at $17.59. Northpointe Bancshares shares last traded at $17.9750, with a volume of 450,623 shares trading hands.

The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). Northpointe Bancshares had a net margin of 16.09% and a return on equity of 12.43%. The firm had revenue of $65.14 million for the quarter, compared to analyst estimates of $64.70 million.

Northpointe Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NPB. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research note on Monday, December 29th. Piper Sandler upped their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.08.

Institutional Trading of Northpointe Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in Northpointe Bancshares by 23.0% during the second quarter. Boston Partners now owns 38,684 shares of the company’s stock valued at $530,000 after purchasing an additional 7,241 shares in the last quarter. Zhang Financial LLC bought a new position in Northpointe Bancshares during the second quarter valued at $1,384,000. JPMorgan Chase & Co. increased its holdings 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 buying an additional 66,798 shares during the last quarter. Boothbay Fund Management LLC grew its position in Northpointe Bancshares by 28.0% in the third quarter. Boothbay Fund Management LLC now owns 202,765 shares of the company’s stock worth $3,463,000 after acquiring an additional 44,315 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Northpointe Bancshares during the 3rd quarter valued at approximately $200,000.

Northpointe Bancshares Stock Down 0.6%

The company has a market cap of $617.29 million and a PE ratio of 11.46. The company has a fifty day moving average of $17.29 and a two-hundred day moving average of $16.79. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.34 and a current ratio of 1.39.

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.