Northpointe Bancshares (NYSE:NPB) Stock Rating Lowered by Zacks Research

Northpointe Bancshares (NYSE:NPB) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Keefe, Bruyette & Woods lowered their target price on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Brean Capital began coverage on Northpointe Bancshares in a report on Wednesday, April 22nd. They issued a “neutral” rating and a $20.25 price target for the company. Finally, Piper Sandler upped their price target on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.62.

Northpointe Bancshares Stock Performance

NYSE:NPB opened at $17.32 on Tuesday. The stock has a market capitalization of $599.10 million and a P/E ratio of 7.50. The company has a current ratio of 1.44, a quick ratio of 1.38 and a debt-to-equity ratio of 2.96. Northpointe Bancshares has a 1 year low of $14.27 and a 1 year high of $19.71. The firm has a 50 day moving average of $18.03 and a 200-day moving average of $17.82.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%.The business had revenue of $64.32 million for the quarter. As a group, sell-side analysts anticipate that Northpointe Bancshares will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Northpointe Bancshares

In other news, 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. This trade represents a 41.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Alan Williams bought 25,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $17.21 per share, with a total value of $430,250.00. Following the transaction, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. The trade was a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 22,500 shares of company stock valued at $410,141 over the last three months. Insiders own 18.30% of the company’s stock.

Institutional Trading of Northpointe Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners lifted its position in Northpointe Bancshares by 1.5% during the 4th quarter. Boston Partners now owns 41,577 shares of the company’s stock valued at $698,000 after purchasing an additional 634 shares during the period. Engineers Gate Manager LP grew its position in shares of Northpointe Bancshares by 2.0% during the 4th quarter. Engineers Gate Manager LP now owns 39,289 shares of the company’s stock worth $659,000 after buying an additional 772 shares during the period. First Trust Advisors LP raised its stake in shares of Northpointe Bancshares by 2.5% during the fourth quarter. First Trust Advisors LP now owns 32,593 shares of the company’s stock worth $547,000 after buying an additional 790 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Northpointe Bancshares by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 14,236 shares of the company’s stock worth $239,000 after buying an additional 1,489 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Northpointe Bancshares during the first quarter worth approximately $26,000.

Northpointe Bancshares Company Profile

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.