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

Northpointe Bancshares' (NYSE:NPB - Get Free Report) quiet period is set to end on Wednesday, March 26th. Northpointe Bancshares had issued 10,420,000 shares in its initial 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 Northpointe Bancshares' quiet period, insiders and underwriters that worked on the IPO are prevented 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

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Northpointe Bancshares in a report on Tuesday, March 11th. They set an "outperform" rating and a $18.00 price objective on the stock. Piper Sandler initiated coverage on Northpointe Bancshares in a research report on Tuesday, March 11th. They set an "overweight" rating and a $16.50 price target for the company.

Northpointe Bancshares Stock Performance

NYSE NPB traded up $0.05 on Friday, reaching $14.54. 734,533 shares of the company's stock traded hands, compared to its average volume of 153,568. Northpointe Bancshares has a fifty-two week low of $13.50 and a fifty-two week high of $14.98.

Insider Buying and Selling at Northpointe Bancshares

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

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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.