A Business at a Glance
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As used in this report, the terms “we”, “us”, “our”, “Northpointe”, and “Company” mean Northpointe Bancshares, Inc. and its subsidiaries, unless the context indicates another meaning. The term “Bank” means Northpointe Bank. Our Business Company Overview Northpointe Bancshares, Inc. (“the Company”) is a bank holding company headquartered in Grand Rapids, Michigan and registered under the Bank Holding Company Act of 1956. Our Bank was founded in 1999 as a focused mortgage portfolio lender primarily operating in the midwestern states of Michigan, Ohio and Indiana. Presently, the Bank also offers a nationwide mortgage purchase program, residential mortgage lending, digital deposit banking to our retail customers and custodial deposit services to our loan servicing clients.
| Metric | TTM | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | 187M | 187M | 196M |
| Net Income | 47M | 47M | 24M |
| EPS | $1.83 | $1.83 | $0.93 |
| Free Cash Flow | 19M | 19M | 501M |
| ROIC | 182.2% | 34.0% | 25.4% |
| Gross Margin | - | - | - |
| Debt/Equity | 0.00 | 10.30 | 10.05 |
| Dividends/Share | $0.10 | $0.10 | $0.10 |
| Operating Income | 216M | 216M | 159M |
| Operating Margin | 115.4% | 115.4% | 81.0% |
| ROE | 10.2% | 10.6% | 5.6% |
| Shares Outstanding | 26M | 26M | 26M |
| Metric | 2023 | ||
|---|---|---|---|
| Income Statement | |||
| Revenue | 196M | 187M | 187M |
| Gross Margin | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A |
| SG&A | 153M | 115M | 115M |
| EBIT | 159M | 216M | 216M |
| Op. Margin | 81.0% | 115.4% | 115.4% |
| Net Income | 24M | 47M | 47M |
| Net Margin | 12.3% | 25.2% | 25.2% |
| Non-Recurring | 0 | 0 | 0 |
| Returns on Capital | |||
| ROIC | 25.4% | 34.0% | 182.2% |
| ROE | 5.6% | 10.6% | 10.2% |
| ROA | 0.5% | 0.9% | 0.9% |
| Cash Flow | |||
| Op. Cash Flow | 504M | 20M | 20M |
| Free Cash Flow | 501M | 19M | 19M |
| Owner Earnings | 501M | 17M | 17M |
| CapEx | 2.8M | 1.1M | 1.1M |
| Maint. CapEx | 3.0M | 2.8M | 2.8M |
| Growth CapEx | 0 | 0 | 0 |
| D&A | 3.0M | 2.8M | 2.8M |
| CapEx/OCF | N/A | N/A | 5.3% |
| Capital Allocation | |||
| Dividends Paid | 2.6M | 2.6M | 2.6M |
| Dividend Yield | N/A | N/A | 0.5% |
| Share Buybacks | 616K | 770K | 770K |
| Buyback Yield | N/A | N/A | 0.2% |
| Stock-Based Comp | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 |
| Balance Sheet | |||
| Net Debt | N/A | N/A | -376M |
| Cash & Equiv. | 352M | 376M | 376M |
| Long-Term Debt | N/A | N/A | N/A |
| Debt/Equity | 10.05 | 10.30 | 0.00 |
| Interest Coverage | 1.3 | 1.4 | 1.4 |
| Equity | 431M | 462M | 462M |
| Total Assets | 4.8B | 5.2B | 5.2B |
| Total Liabilities | 4.3B | 4.8B | 4.8B |
| Intangibles | 4.5M | 2.1M | 2.1M |
| Retained Earnings | 251M | 296M | 296M |
| Working Capital | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A |
| Per Share Data | |||
| EPS | 0.93 | 1.83 | 1.83 |
| Owner EPS | 19.33 | 0.66 | 0.66 |
| Book Value | 16.61 | 17.95 | 17.95 |
| Cash Flow/Share | 19.45 | 0.77 | 1.94 |
| Dividends/Share | 0.10 | 0.10 | 0.10 |
| Shares Out. | 25.9M | 25.8M | 25.8M |
| Valuation | |||
| P/E Ratio | N/A | N/A | 10.4 |
| P/FCF | N/A | N/A | 26.1 |
| EV/EBIT | N/A | N/A | 0.5 |
| Price/Book | N/A | N/A | 1.1 |
| Price/Sales | N/A | N/A | 2.6 |
| FCF Yield | N/A | N/A | 3.8% |
| Market Cap | N/A | N/A | 490M |
| Avg. Price | N/A | N/A | 19.00 |
| Year-End Price | N/A | N/A | 19.00 |
NORTHPOINTE BANCSHARES INC passes 3 of 9 quality checks, indicating weak fundamentals.
NORTHPOINTE BANCSHARES INC trades at 10.4x trailing earnings, compared to its 15-year median P/E of 15.0x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average ROIC is 29.7%. Total shareholder yield (dividends + buybacks) is 0.7%.
NORTHPOINTE BANCSHARES INC (NPB) has a current P/E ratio of 10.4, compared to its historical median P/E of 15.0. The stock is currently considered Cheap based on its historical valuation range.
NORTHPOINTE BANCSHARES INC (NPB) has a 5-year average return on invested capital (ROIC) of 29.7%. This indicates strong capital allocation and a potential competitive advantage.
NORTHPOINTE BANCSHARES INC (NPB) has a market capitalization of $490M. It is classified as a small-cap stock.
Yes, NORTHPOINTE BANCSHARES INC (NPB) pays a dividend with a trailing twelve-month yield of 0.52%. The company also returns capital through share buybacks, with a buyback yield of 0.16%.
Based on historical P/E analysis, NORTHPOINTE BANCSHARES INC (NPB) appears cheap. The current P/E of 10.4 is 31% below its historical median of 15.0.
NORTHPOINTE BANCSHARES INC (NPB) operates in the State Commercial Banks industry, within the Financials sector.
NORTHPOINTE BANCSHARES INC (NPB) reported annual revenue of $187 million in its most recent fiscal year, based on SEC EDGAR filings.
NORTHPOINTE BANCSHARES INC (NPB) has a net profit margin of 25.2%. This is a strong margin indicating high profitability.
NORTHPOINTE BANCSHARES INC (NPB) generated $19 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NORTHPOINTE BANCSHARES INC (NPB) has a debt-to-equity ratio of 10.30. This indicates higher leverage, which may increase financial risk.
NORTHPOINTE BANCSHARES INC (NPB) reported earnings per share (EPS) of $1.83 in its most recent fiscal year.
NORTHPOINTE BANCSHARES INC (NPB) has a return on equity (ROE) of 10.6%. This indicates moderate shareholder returns.
The Ledger Terminal provides 2 years of financial data for NORTHPOINTE BANCSHARES INC (NPB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NORTHPOINTE BANCSHARES INC (NPB) has a book value per share of $17.95, based on its most recent annual SEC filing.