Northpointe Bancshares Inc’s (NYSE:NPB) Quiet Period To End on March 26th

Northpointe Bancshares’ (NYSE:NPB) quiet period will 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, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates 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

Several equities research analysts have recently weighed in on the company. Piper Sandler began coverage on Northpointe Bancshares in a research note on Tuesday, March 11th. They issued an “overweight” rating and a $16.50 price target for the company. Keefe, Bruyette & Woods began 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.

Northpointe Bancshares Price Performance

Shares of NYSE NPB opened at $14.54 on Friday. Northpointe Bancshares has a twelve month low of $13.50 and a twelve month high of $14.98.

Insiders Place Their Bets

In related 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 transaction, the director now owns 760,828 shares in the company, valued at $10,316,827.68. The trade was a 6.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Alan Williams bought 17,241 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $249,994.50. Following the completion of the purchase, the chief executive officer now owns 17,241 shares of the company’s stock, valued at $249,994.50. This represents a ∞ increase in their ownership of the stock. 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.