Raymond James Maintains a Hold Rating on Newtek Business (NEWT)


In a report released yesterday, Robert Dodd from Raymond James maintained a Hold rating on Newtek Business (NEWT). The company’s shares closed last Tuesday at $27.39, close to its 52-week high of $28.63.

According to TipRanks.com, Dodd is a 5-star analyst with an average return of 10.1% and a 69.1% success rate. Dodd covers the Financial sector, focusing on stocks such as First Eagle Alternative Capital BDC, Investcorp Credit Management BDC, and Sixth Street Specialty Lending.

Currently, the analyst consensus on Newtek Business is a Moderate Buy with an average price target of $30.00.

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Newtek Business’ market cap is currently $613.7M and has a P/E ratio of 17.60. The company has a Price to Book ratio of 1.85.

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Newtek Business Services Corp. is a non-diversified closed-end management investment company, which engages in the provision of business and financial solutions. Its products and services include business lending, electronic payment processing, managed technology solutions (cloud computing), technology consulting, ecommerce, accounts receivable, inventory financing, personal and commercial lines insurance services, web services, data backup, storage and retrieval, and payroll and benefits solutions to small-and-medium sized businesses (SMB) accounts nationwide across all industries. The company was founded by Barry Sloane in 1998 and is headquartered in New York, NY.

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