Northpointe initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Northpointe (NPB) with an Overweight rating and $16.50 price target Northpointe is a mortgage bank focused on warehouse lending, residential lending, servicing, and digital deposits, the analyst tells investors in a research note. Piper believes Northpointe “represents a unique opportunity” to own a mortgage bank that has shown solid performance through cycles with near-term catalysts being a potential Russell 2000 addition as well as benefiting from “episodic” rate moves in 2025 that can drive higher originations.