Northpointe Bancshares (NYSE:NPB) CEO Purchases $818,888.40 in Stock

Northpointe Bancshares, Inc. (NYSE:NPB) CEO Charles Alan Williams acquired 48,312 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $16.95 per share, with a total value of $818,888.40. Following the acquisition, the chief executive officer owned 2,390,962 shares in the company, valued at approximately $40,526,805.90. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Charles Alan Williams also recently made the following trade(s):

• On Tuesday, August 25th, Charles Alan Williams bought 30,000 shares of Northpointe Bancshares stock. The shares were bought at an average cost of $16.95 per share, for a total transaction of $508,500.00.

Northpointe Bancshares Stock Down 0.4%

Northpointe Bancshares stock opened at $17.05 on Friday. The business’s 50-day moving average price is $17.85 and its 200 day moving average price is $17.73. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.66. The firm has a market cap of $589.59 million, a price-to-earnings ratio of 7.38 and a beta of 0.07. Northpointe Bancshares, Inc. has a 52 week low of $15.42 and a 52 week high of $19.71.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Northpointe Bancshares had a net margin of 17.72% and a return on equity of 14.99%. The company had revenue of $64.32 million during the quarter. As a group, sell-side analysts anticipate that Northpointe Bancshares, Inc. will post 2.48 earnings per share for the current year.

Northpointe Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. Northpointe Bancshares’s dividend payout ratio is 4.33%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NPB. Keefe, Bruyette & Woods cut their price objective on shares of Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Northpointe Bancshares in a research report on Wednesday. Zacks Research cut Northpointe Bancshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Piper Sandler raised their price objective on Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.08.

Hedge Funds Weigh In On Northpointe Bancshares

Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Northpointe Bancshares in the first quarter valued at about $26,000. Goldman Sachs Group Inc. acquired a new position in shares of Northpointe Bancshares during the 1st quarter worth about $9,908,000. Jane Street Group LLC acquired a new position in shares of Northpointe Bancshares during the 1st quarter worth about $146,000. Geode Capital Management LLC lifted its stake in Northpointe Bancshares by 138.9% in the 2nd quarter. Geode Capital Management LLC now owns 234,789 shares of the company’s stock valued at $3,220,000 after buying an additional 136,490 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Northpointe Bancshares in the 2nd quarter valued at about $776,000.

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.