Keefe, Bruyette & Woods Has Lowered Expectations for Northpointe Bancshares (NYSE:NPB) Stock Price

Northpointe Bancshares (NYSE:NPB) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $22.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 21.85% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Piper Sandler lifted their price objective on shares of Northpointe Bancshares from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Brean Capital started coverage on shares of Northpointe Bancshares in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $20.25 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Northpointe Bancshares in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.62.

Northpointe Bancshares Stock Up 0.1%

Shares of Northpointe Bancshares stock opened at $17.23 on Thursday. Northpointe Bancshares has a one year low of $14.25 and a one year high of $19.71. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.44 and a quick ratio of 1.38. The stock’s 50-day moving average is $18.03 and its 200 day moving average is $17.82. The firm has a market cap of $595.95 million and a price-to-earnings ratio of 7.46.

Northpointe Bancshares (NYSE:NPB) last released its earnings results on Tuesday, July 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Northpointe Bancshares had a return on equity of 15.10% and a net margin of 17.72%.The business had revenue of $64.32 million for the quarter. Equities research analysts anticipate that Northpointe Bancshares will post 2.63 EPS for the current year.

Insider Buying and Selling

In other Northpointe Bancshares news, CEO Charles Alan Williams purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $17.21 per share, for a total transaction of $430,250.00. Following the purchase, the chief executive officer owned 2,312,650 shares of the company’s stock, valued at $39,800,706.50. This trade represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Stevens Hooker sold 7,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $17.82, for a total transaction of $133,650.00. Following the transaction, the director owned 11,500 shares in the company, valued at approximately $204,930. The trade was a 39.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,500 shares of company stock worth $410,141 over the last ninety days. 18.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Northpointe Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Northpointe Bancshares by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,841,773 shares of the company’s stock worth $65,617,000 after acquiring an additional 95,953 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Northpointe Bancshares by 12.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,018,214 shares of the company’s stock worth $33,866,000 after purchasing an additional 224,110 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 485,525 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Northpointe Bancshares by 6.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 760,353 shares of the company’s stock worth $12,759,000 after purchasing an additional 45,047 shares during the last quarter. Finally, Jacobs Asset Management LLC lifted its holdings in shares of Northpointe Bancshares by 2.7% in the fourth quarter. Jacobs Asset Management LLC now owns 475,000 shares of the company’s stock valued at $7,970,000 after purchasing an additional 12,500 shares in the last quarter.

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.