Northpointe Bancshares (NYSE:NPB) Stock: Insider Rajeev Kumar Chaudhary Purchases 3,000 Shares

Northpointe Bancshares, Inc. (NYSE:NPB) Director Rajeev Kumar Chaudhary bought 3,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The stock was bought at an average price of $15.80 per share, for a total transaction of $47,400.00. Following the transaction, the director directly 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Northpointe Bancshares Trading Down 2.5%

NYSE NPB opened at $15.77 on Friday. Northpointe Bancshares, Inc. has a twelve month low of $13.80 and a twelve month high of $19.71. The business’s fifty day moving average is $16.11 and its 200 day moving average is $17.35. 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 company has a market cap of $545.33 million, a price-to-earnings ratio of 7.60 and a beta of 0.16.

Northpointe Bancshares (NYSE:NPB) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.39 earnings per share (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 firm had revenue of $55.92 million during the quarter. As a group, sell-side analysts expect that Northpointe Bancshares, Inc. will post 1.80 EPS for the current fiscal year.

Northpointe Bancshares Increases Dividend

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

Wall Street Analysts Forecast Growth

NPB has been the subject of several research analyst reports. Piper Sandler lowered their price objective on Northpointe Bancshares from $20.00 to $19.50 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Keefe, Bruyette & Woods cut their price target on Northpointe Bancshares from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Zacks Research upgraded shares of Northpointe Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings raised Northpointe Bancshares from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.25.

Hedge Funds Weigh In On Northpointe Bancshares

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in shares of Northpointe Bancshares by 62.8% in the third quarter. State of Alaska Department of Revenue now owns 3,920 shares of the company’s stock worth $57,000 after purchasing an additional 1,512 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Northpointe Bancshares in the second quarter valued at about $218,000. Squarepoint Ops LLC bought a new position in shares of Northpointe Bancshares during the 2nd quarter worth approximately $765,000. Pale Fire Capital SE lifted its holdings in Northpointe Bancshares by 29.2% during the second quarter. Pale Fire Capital SE now owns 13,258 shares of the company’s stock worth $254,000 after acquiring an additional 3,000 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Northpointe Bancshares in the 2nd quarter worth about $191,000.

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.