Northpointe initiated with an Outperform at Keefe Bruyette

Keefe Bruyette initiated coverage of Northpointe (NPB) with an Outperform rating and $18 price target The firm views Northpointe as a “unique investment opportunity” for investors to own a mortgage-focused growth company “armed with healthy capital levels given its recent initial public offering.” The analyst sees “attractive returns” of a 130 basis points return on assets and a mid-teens return on tangible common equity for the bank.