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

Northpointe Bancshares’ (NYSE:NPB) quiet period is set to expire 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, insiders and any underwriters that worked on the IPO are restricted 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

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

Northpointe Bancshares Trading Up 0.3 %

NYSE NPB opened at $14.54 on Friday. Northpointe Bancshares has a 1 year low of $13.50 and a 1 year high of $14.98.

Insiders Place Their Bets

In other news, Director Vlieger Robert W. De II sold 50,819 shares of the firm’s stock in a transaction 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 sale, the director now directly 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 SEC, which is available through the SEC website. Also, CEO Charles Alan Williams bought 17,241 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 17,241 shares in the company, valued at approximately $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.