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

Northpointe Bancshares’ (NYSE:NPB) quiet period is set to expire 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 any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end 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 subject of several recent analyst reports. Piper Sandler began coverage on Northpointe Bancshares in a report on Tuesday, March 11th. They issued an “overweight” rating and a $16.50 price target for the company. Keefe, Bruyette & Woods started coverage on Northpointe Bancshares in a report on Tuesday, March 11th. They issued an “outperform” rating and a $18.00 target price for the company.

Northpointe Bancshares Price Performance

Shares of NYSE:NPB opened at $14.38 on Wednesday. Northpointe Bancshares has a one year low of $13.50 and a one year high of $14.98.

Insider Buying and Selling at Northpointe Bancshares

In related news, CEO Charles Alan Williams acquired 17,241 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $14.50 per share, with a total value of $249,994.50. Following the purchase, the chief executive officer now directly owns 17,241 shares in the company, valued at $249,994.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 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 in the company, valued at $10,316,827.68. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale 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.