NewtekOne price target raised to $14 from $13 at Compass Point

Compass Point analyst Merrill Ross raised the firm’s price target on NewtekOne (NEWT) to $14 from $13 and keeps a Neutral rating on the shares. NewtekOne’s position as “the most prolific SBA 7(a) bank lender” was confirmed by the SBA’s dataset regarding 2024 fiscal year activity report for dollars approved for disbursement, the analyst tells investors. The firm continues to think that NewtekOne’s SBA lending business might have to manage its growth to lower non-accrual rates in order to thrive as a regulated bank and those concerns lead it to maintain a Neutral rating, the analyst noted.