Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Update
by Scott Moore · The Cerbat GemNorthpointe Bancshares, Inc. (NYSE:NPB – Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 306,983 shares, a drop of 31.9% from the March 15th total of 450,452 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 206,609 shares, the days-to-cover ratio is currently 1.5 days.
Insider Activity at Northpointe Bancshares
In related news, EVP Amy M. Butler sold 9,911 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $18.02, for a total value of $178,596.22. Following the completion of the transaction, the executive vice president owned 6,365 shares in the company, valued at $114,697.30. This trade represents a 60.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Jeffery Dean sold 57,619 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $17.55, for a total transaction of $1,011,213.45. Following the completion of the transaction, the director owned 557,171 shares of the company’s stock, valued at approximately $9,778,351.05. This trade represents a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 73,895 shares of company stock worth $1,301,197 in the last quarter. 18.30% of the stock is owned by insiders.
Institutional Trading of Northpointe Bancshares
Several large investors have recently modified their holdings of NPB. Adage Capital Partners GP L.L.C. grew its position in shares of Northpointe Bancshares by 122.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,694,728 shares of the company’s stock worth $23,235,000 after buying an additional 931,240 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Northpointe Bancshares during the 1st quarter worth approximately $9,908,000. Vanguard Group Inc. grew its position in shares of Northpointe Bancshares by 84.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,063,156 shares of the company’s stock worth $18,159,000 after buying an additional 485,525 shares during the period. Millennium Management LLC grew its position in shares of Northpointe Bancshares by 462.4% during the 3rd quarter. Millennium Management LLC now owns 373,891 shares of the company’s stock worth $6,386,000 after buying an additional 307,409 shares during the period. Finally, Algebris UK Ltd. acquired a new stake in shares of Northpointe Bancshares during the 3rd quarter worth approximately $4,447,000.
Wall Street Analysts Forecast Growth
NPB has been the subject of a number of research reports. Piper Sandler raised their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.63.
Get Our Latest Stock Analysis on Northpointe Bancshares
Northpointe Bancshares Trading Down 1.5%
Northpointe Bancshares stock traded down $0.29 during mid-day trading on Thursday, hitting $18.52. 162,976 shares of the stock were exchanged, compared to its average volume of 181,725. The company has a quick ratio of 1.34, a current ratio of 1.40 and a debt-to-equity ratio of 2.70. Northpointe Bancshares has a 12 month low of $11.43 and a 12 month high of $19.48. The firm’s fifty day simple moving average is $17.68 and its two-hundred day simple moving average is $17.33. The stock has a market capitalization of $638.82 million, a price-to-earnings ratio of 8.86 and a beta of 0.23.
Northpointe Bancshares (NYSE:NPB – Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.08). The firm had revenue of $65.14 million for the quarter, compared to the consensus estimate of $64.70 million. Northpointe Bancshares had a return on equity of 14.00% and a net margin of 17.70%.
Northpointe Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. Northpointe Bancshares’s dividend payout ratio (DPR) is 4.78%.
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.