Northpointe Bancshares Inc’s (NYSE:NPB) Quiet Period Will End Tomorrow

Northpointe Bancshares’ (NYSE:NPB) quiet period is set to end on Wednesday, March 26th. Northpointe Bancshares had issued 10,420,000 shares in its public offering on February 14th. The total size of the offering was $151,090,000 based on an initial share price of $14.50. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NPB shares. Keefe, Bruyette & Woods initiated coverage on shares of Northpointe Bancshares in a research report on Tuesday, March 11th. They set an “outperform” rating and a $18.00 target price for the company. Piper Sandler began coverage on shares of Northpointe Bancshares in a report on Tuesday, March 11th. They set an “overweight” rating and a $16.50 price objective for the company.

Northpointe Bancshares Stock Down 0.6 %

Shares of Northpointe Bancshares stock opened at $14.42 on Tuesday. Northpointe Bancshares has a one year low of $13.50 and a one year high of $14.98.

Insider Transactions at Northpointe Bancshares

In other news, Director Vlieger Robert W. De II sold 50,819 shares of the stock in a transaction dated 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 sale, the director now directly owns 760,828 shares in the company, valued at approximately $10,316,827.68. This represents a 6.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Alan Williams purchased 17,241 shares of Northpointe Bancshares stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $14.50 per share, for a total transaction of $249,994.50. Following the acquisition, the chief executive officer now owns 17,241 shares in the company, valued at $249,994.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Northpointe Bancshares Company Profile

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.