Northpointe Bancshares (NYSE:NPB) Reaches New 12-Month High - Here's What Happened

Northpointe Bancshares Inc (NYSE:NPB) achieved a significant milestone by reaching a new 52-week high during trading on Friday. The stock climbed to a peak price of $15.30, where it remained until the close of trading, with a total volume of 301 shares exchanged. This marked an increase from its previous closing price of $14.49.

Wall Street Analysts Forecast Growth

Recent reports from various equity research analysts have been optimistic regarding Northpointe Bancshares. For instance, Piper Sandler initiated coverage on NPB, suggesting an "overweight" rating with a price target set at $16.50. Similarly, Keefe, Bruyette & Woods also began evaluating Northpointe Bancshares and suggested an "outperform" rating with a higher price target of $18.00.

Northpointe Bancshares Stock Up 0.1 %

Insider Buying and Selling

In recent insider trading activities involving Northpointe Bancshares, CEO Charles Alan Williams purchased 17,241 shares on February 18 at an average price of $14.50 per share, culminating in a total investment of approximately $249,994.50. Following this acquisition, Williams now directly holds 17,241 shares valued similarly at about $249,994.50. This represents a significant increase in ownership.

On a different note, Director Robert W. De Vlieger II sold 50,819 shares on March 4 at an average price of $13.56, totaling around $689,105.64 from the transaction. Post-sale, De Vlieger now holds 760,828 shares, valued at approximately $10.3 million. This sale indicates a 6.26% reduction in his overall stock ownership.

Northpointe Bancshares Company Profile

Northpointe Bancshares Inc is a bank holding company headquartered in Grand Rapids, Michigan. It operates primarily through its wholly-owned banking subsidiary, Northpointe Bank. The company focuses on specialized business lines that set it apart in the banking sector.

Summary

In conclusion, Northpointe Bancshares has reached a new 12-month high, backed by positive analyst forecasts and recent insider trading activities reflecting confidence in the company’s future. Investors might want to keep an eye on these developments as they assess their positions in the company.

Northpointe, Stocks, Trading