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 IPO on February 14th. The total size of the offering was $151,090,000 based on an initial share price of $14.50. During Northpointe Bancshares’ quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

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

Northpointe Bancshares Price Performance

Shares of NPB opened at $14.42 on Tuesday. Northpointe Bancshares has a 52 week low of $13.50 and a 52 week high of $14.98.

Insider Buying and Selling at Northpointe Bancshares

In other news, CEO Charles Alan Williams acquired 17,241 shares of Northpointe Bancshares stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $14.50 per share, for a total transaction of $249,994.50. Following the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vlieger Robert W. De II sold 50,819 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 in the company, valued at approximately $10,316,827.68. This represents a 6.26 % decrease in their position. The disclosure for this sale 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.