Overview * Northpointe Q3 net income rises to $20.1 mln * Net interest income increases by $3.6 mln from prior quarter, reflecting asset growth * Company's non-interest income rises $1.6 mln, driven by fair value changes in loans Outlook * Northpointe Bancshares did not provide specific future guidance Result Drivers * MORTGAGE PURCHASE PROGRAM – Co reports exceptional performance in MPP, increasing balances by $1.7 bln over prior yr and funding $9.8 bln in loans during qtr * INTEREST-BEARING DEPOSITS – Interest-bearing demand deposits increased by over $300 mln from the prior qtr due to new custodial deposits * NET INTEREST INCOME – Net interest income after provision increased by $3.6 mln from prior qtr, driven by growth in average interest-earning assets and net interest margin expansion Key Details Metric Beat/Mis Actual Consensu s s Estimate Q3 EPS $0.57 Q3 Net $22.17 Income mln Q3 Net $40.33 Interest mln Income Q3 Net 2.47% Interest Margin (%) Q3 $29.17 Pretax mln Profit Q3 $852,000 Provisio n for Credit Losses Analyst Coverage * The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" * The average consensus recommendation for the banks peer group is "buy" * Wall Street's median 12-month price target for Northpointe Bancshares Inc is $19.50, about 13.6% above its October 21 closing price of $16.85 * The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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