Northpointe Bancshares (NYSE: NPB) announced its quarterly earnings on Tuesday, reporting an earnings per share (EPS) of $0.52. This figure fell short of analysts’ expectations, which had anticipated an EPS of $0.60, resulting in a miss of $0.08. The report, which was analyzed by Zacks, highlighted a net margin of 16.09% and a return on equity of 12.43%.
The announcement impacted stock trading, with Northpointe Bancshares shares declining by 3.9% to reach $18.05 during midday trading. A total of 709,148 shares changed hands, surpassing the company’s average trading volume of 618,629. As of now, Northpointe Bancshares boasts a market capitalization of $620.25 million and a price-to-earnings (P/E) ratio of 11.50. Over the past year, the stock has fluctuated between a low of $11.43 and a high of $19.22. Its fifty-day moving average stands at $17.25, while the 200-day moving average is $16.76. The company’s debt-to-equity ratio is 2.24, with a quick ratio of 1.34 and a current ratio of 1.39.
Dividend Announcement and Shareholder Details
In addition to its earnings report, Northpointe Bancshares revealed it will pay a quarterly dividend of $0.025 per share on February 3, 2024. Shareholders on record as of January 15, 2024 will qualify for this payment, which equates to an annualized dividend of $0.10 and a yield of 0.6%. The ex-dividend date is also set for January 15, 2024. Currently, the company maintains a payout ratio of 6.37%.
Institutional Investment Activity
Recent activity among institutional investors reflects a growing interest in Northpointe Bancshares. Notably, Cubist Systematic Strategies LLC acquired a new stake in the company during the first quarter, valued at approximately $26,000. Furthermore, Goldman Sachs Group Inc. purchased a substantial new position in Northpointe Bancshares, amounting to $9.91 million. Jane Street Group LLC also entered the market with an investment of approximately $146,000.
Geode Capital Management LLC has notably increased its stake in Northpointe Bancshares by 138.9% in the second quarter, now holding 234,789 shares valued at around $3.22 million. Additionally, JPMorgan Chase & Co. invested $776,000 in new shares during the same period.
Northpointe Bancshares operates as a bank holding company for Northpointe Bank, an FDIC-insured community bank located in Michigan. The bank offers a comprehensive range of commercial and consumer banking services, catering to retail, small business, and corporate clients through both physical branches and digital platforms. Its product offerings include interest-bearing checking and savings accounts, money market accounts, certificates of deposit, as well as residential mortgage lending, home equity financing, and unsecured consumer loans.
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