Northpointe Bancshares, Inc. (NYSE:NPB) Short Interest Update
by Sarita Garza · The Markets DailyNorthpointe Bancshares, Inc. (NYSE:NPB – Get Free Report) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 320,027 shares, a drop of 31.8% from the November 30th total of 469,140 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 283,451 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 283,451 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.1% of the shares of the company are sold short.
Northpointe Bancshares Price Performance
Northpointe Bancshares stock traded down $0.22 on Monday, reaching $16.97. The company’s stock had a trading volume of 171,741 shares, compared to its average volume of 345,217. The business’s fifty day moving average price is $16.85 and its 200 day moving average price is $16.35. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.34 and a current ratio of 1.39. The company has a market cap of $583.26 million and a price-to-earnings ratio of 10.81. Northpointe Bancshares has a twelve month low of $11.43 and a twelve month high of $18.85.
Northpointe Bancshares (NYSE:NPB – Get Free Report) last announced its earnings results on Tuesday, October 21st. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The company had revenue of $64.36 million during the quarter, compared to the consensus estimate of $62.17 million. Northpointe Bancshares had a net margin of 16.09% and a return on equity of 12.43%.
Northpointe Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, October 15th. Northpointe Bancshares’s dividend payout ratio (DPR) is 6.37%.
Institutional Trading of Northpointe Bancshares
A number of institutional investors have recently bought and sold shares of NPB. Voleon Capital Management LP acquired a new position in shares of Northpointe Bancshares in the 3rd quarter valued at $648,000. PMC FIG Opportunities LLC lifted its stake in Northpointe Bancshares by 91.7% in the third quarter. PMC FIG Opportunities LLC now owns 130,505 shares of the company’s stock valued at $2,229,000 after buying an additional 62,430 shares during the period. Millennium Management LLC boosted its holdings in Northpointe Bancshares by 462.4% during the third 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 last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Northpointe Bancshares during the 3rd quarter worth about $174,000. Finally, Boothbay Fund Management LLC increased its stake in shares of Northpointe Bancshares by 28.0% in the 3rd quarter. Boothbay Fund Management LLC now owns 202,765 shares of the company’s stock valued at $3,463,000 after acquiring an additional 44,315 shares during the last quarter.
Wall Street Analysts Forecast Growth
NPB has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a research report on Monday, December 22nd. Piper Sandler upped their price objective on Northpointe Bancshares from $19.50 to $20.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.08.
Check Out Our Latest Report on Northpointe Bancshares
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.