Northpointe Bancshares (NYSE:NPB) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of Northpointe Bancshares, Inc. (NYSE:NPB) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $16.16 and traded as high as $16.30. Northpointe Bancshares shares last traded at $16.1910, with a volume of 429,855 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NPB. Weiss Ratings upgraded Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Keefe, Bruyette & Woods decreased 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. Piper Sandler decreased their target price on Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating for the company 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Northpointe Bancshares has a consensus rating of “Hold” and a consensus target price of $20.25.

Northpointe Bancshares Stock Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.34 and a current ratio of 1.40. The firm has a 50 day moving average price of $16.11 and a two-hundred day moving average price of $17.35. The company has a market capitalization of $545.33 million, a P/E ratio of 7.60 and a beta of 0.16.

Northpointe Bancshares (NYSE:NPB) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.21). Northpointe Bancshares had a net margin of 16.27% and a return on equity of 13.88%. The company had revenue of $55.92 million during the quarter. On average, research analysts expect that Northpointe Bancshares, Inc. will post 1.80 earnings per share for the current fiscal year.

Northpointe Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Thursday, October 15th will be paid a $0.03 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. This is a boost from Northpointe Bancshares’s previous quarterly dividend of $0.0250. Northpointe Bancshares’s dividend payout ratio is presently 5.63%.

Insider Activity

In other news, COO Joseph B. Long bought 3,240 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average price of $15.37 per share, for a total transaction of $49,798.80. Following the transaction, the chief operating officer directly owned 3,240 shares of the company’s stock, valued at $49,798.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rajeev Kumar Chaudhary purchased 3,000 shares of Northpointe Bancshares stock in a transaction on Wednesday, October 28th. The stock was purchased at an average price of $15.80 per share, for a total transaction of $47,400.00. Following the completion of the transaction, the director owned 3,000 shares of the company’s stock, valued at approximately $47,400. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 196,552 shares of company stock worth $3,146,387 over the last 90 days. 18.30% of the stock is currently owned by company insiders.

Institutional Trading of Northpointe Bancshares

Large investors have recently added to or reduced their stakes in the company. Mendon Capital Advisors Corp raised its position in Northpointe Bancshares by 86.4% in the 1st quarter. Mendon Capital Advisors Corp now owns 308,624 shares of the company’s stock valued at $5,327,000 after purchasing an additional 143,010 shares during the last quarter. Bank of America Corp DE boosted its stake in Northpointe Bancshares by 126.9% in the first quarter. Bank of America Corp DE now owns 215,544 shares of the company’s stock worth $3,720,000 after purchasing an additional 120,554 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Northpointe Bancshares during the second quarter worth $1,756,000. Segall Bryant & Hamill LLC bought a new stake in shares of Northpointe Bancshares during the first quarter worth $1,515,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Northpointe Bancshares by 22.3% during the first quarter. Hsbc Holdings PLC now owns 80,507 shares of the company’s stock worth $1,385,000 after purchasing an additional 14,655 shares during the last quarter.

About Northpointe Bancshares

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.