Northpointe Bancshares (NYSE:NPB) Shares Gap Down After Earnings Miss

Northpointe Bancshares, Inc. (NYSE:NPB) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $18.06, but opened at $17.59. Northpointe Bancshares shares last traded at $17.9750, with a volume of 450,623 shares changing hands.

The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The firm had revenue of $65.14 million during the quarter, compared to analysts’ expectations of $64.70 million. Northpointe Bancshares had a net margin of 17.70% and a return on equity of 13.79%.

Northpointe Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 3rd. Investors of record on Thursday, January 15th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, January 15th. Northpointe Bancshares’s payout ratio is currently 6.37%.

Analysts Set New Price Targets

Several brokerages have commented on NPB. Weiss Ratings reissued a “sell (d-)” rating on shares of Northpointe Bancshares in a report on Monday, December 29th. Piper Sandler upped their price objective on shares of Northpointe Bancshares from $19.50 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Northpointe Bancshares has an average rating of “Hold” and an average price target of $19.08.

Institutional Investors Weigh In On Northpointe Bancshares

A number of large investors have recently modified their holdings of NPB. SG Americas Securities LLC raised its position in shares of Northpointe Bancshares by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 14,236 shares of the company’s stock valued at $239,000 after buying an additional 1,489 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Northpointe Bancshares during the 1st quarter valued at about $26,000. Boston Partners raised its holdings in Northpointe Bancshares by 5.8% in the 3rd quarter. Boston Partners now owns 40,943 shares of the company’s stock valued at $699,000 after acquiring an additional 2,259 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in Northpointe Bancshares in the 2nd quarter worth approximately $33,000. Finally, State of Wyoming acquired a new position in shares of Northpointe Bancshares during the 2nd quarter worth approximately $54,000.

Northpointe Bancshares Stock Up 3.7%

The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 2.24. The business has a 50-day moving average price of $17.36 and a 200-day moving average price of $16.81. The firm has a market capitalization of $649.25 million and a PE ratio of 9.04.

About Northpointe Bancshares

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.