NewtekOne (NASDAQ:NEWT) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of NewtekOne (NASDAQ:NEWT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a report on Wednesday, October 8th. B. Riley initiated coverage on shares of NewtekOne in a research report on Monday, September 15th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $13.00 price objective (up from $12.00) on shares of NewtekOne in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NewtekOne presently has an average rating of “Hold” and an average target price of $14.25.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $11.48 on Friday. The business’s 50 day simple moving average is $10.86 and its 200-day simple moving average is $11.32. The firm has a market capitalization of $331.66 million, a price-to-earnings ratio of 5.15 and a beta of 1.26. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67. NewtekOne has a 12 month low of $9.12 and a 12 month high of $13.74.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $74.94 million during the quarter, compared to the consensus estimate of $78.31 million. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%. As a group, equities analysts forecast that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.76 annualized dividend and a yield of 6.6%. NewtekOne’s payout ratio is presently 34.08%.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $10.22 per share, with a total value of $102,200.00. Following the purchase, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at approximately $12,391,330.98. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 13,189 shares of company stock valued at $137,736. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Several institutional investors and hedge funds have recently modified their holdings of the company. Patriot Financial Partners GP II L.P. purchased a new stake in NewtekOne in the 3rd quarter worth approximately $26,423,000. Vanguard Group Inc. boosted its holdings in shares of NewtekOne by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock worth $16,706,000 after purchasing an additional 26,966 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NewtekOne by 2.3% in the second quarter. Geode Capital Management LLC now owns 630,105 shares of the business services provider’s stock valued at $7,109,000 after purchasing an additional 14,413 shares during the period. Marshall Wace LLP grew its position in shares of NewtekOne by 42.9% in the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock valued at $7,034,000 after purchasing an additional 187,103 shares during the period. Finally, North Reef Capital Management LP acquired a new position in NewtekOne in the third quarter valued at $4,430,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.