Northpointe Bancshares (NYSE:NPB) Shares Up 4.1% – Still a Buy?

Northpointe Bancshares Inc (NYSE:NPB) shot up 4.1% on Thursday . The company traded as high as $14.83 and last traded at $14.82. 65,130 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 123,710 shares. The stock had previously closed at $14.24.

Analyst Upgrades and Downgrades

NPB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods began coverage on shares of Northpointe Bancshares in a research note on Tuesday, March 11th. They set an “outperform” rating and a $18.00 price objective on the stock. Piper Sandler assumed coverage on shares of Northpointe Bancshares in a research note on Tuesday, March 11th. They set an “overweight” rating and a $16.50 price target on the stock.

Northpointe Bancshares Price Performance

Insider Activity

In other news, Director Vlieger Robert W. De II sold 50,819 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $13.56, for a total transaction of $689,105.64. Following the completion of the transaction, the director now owns 760,828 shares of the company’s stock, valued at approximately $10,316,827.68. The trade was a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Alan Williams bought 17,241 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $14.50 per share, with a total value of $249,994.50. Following the transaction, the chief executive officer now owns 17,241 shares in the company, valued at $249,994.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here.

About Northpointe Bancshares

We are a bank holding company headquartered in Grand Rapids, Michigan and registered under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). We operate our business primarily through our wholly-owned banking subsidiary, Northpointe Bank. We emphasize to our employees and clients that our specialized business lines differentiate us as a business that has the added benefit of being a bank.