NewtekOne, Inc. (NASDAQ:NEWT) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $15.33.

Several brokerages have weighed in on NEWT. B. Riley Financial cut their price target on NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a report on Monday, August 31st. Zacks Research raised NewtekOne from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings cut NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Piper Sandler lowered their price objective on NewtekOne from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th.

Institutional Trading of NewtekOne

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its stake in shares of NewtekOne by 7.1% during the 2nd quarter. Squarepoint Ops LLC now owns 173,340 shares of the business services provider’s stock valued at $2,567,000 after acquiring an additional 11,533 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of NewtekOne during the 2nd quarter worth about $2,264,000. Quantinno Capital Management LP lifted its holdings in shares of NewtekOne by 98.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock worth $882,000 after acquiring an additional 39,990 shares during the period. Bank of America Corp DE lifted its holdings in shares of NewtekOne by 26.6% during the 1st quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider’s stock worth $717,000 after acquiring an additional 13,761 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in shares of NewtekOne by 126.0% in the first quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock worth $695,000 after acquiring an additional 35,369 shares during the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Stock Performance

Shares of NASDAQ NEWT opened at $10.79 on Thursday. The company has a market cap of $311.60 million, a PE ratio of 5.71 and a beta of 1.30. NewtekOne has a 12 month low of $9.59 and a 12 month high of $15.69. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.76 and a quick ratio of 0.65. The company has a 50-day simple moving average of $11.35 and a 200-day simple moving average of $12.72.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.11). NewtekOne had a net margin of 13.58% and a return on equity of 15.58%. The firm had revenue of $71.79 million for the quarter, compared to analysts’ expectations of $77.10 million. On average, equities analysts anticipate that NewtekOne will post 1.74 earnings per share for the current year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 24th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, September 24th. This represents a $0.76 annualized dividend and a yield of 7.0%. NewtekOne’s dividend payout ratio is 40.21%.

NewtekOne Company Profile

NewtekOne, Inc. is a financial holding company that provides banking and business services to small and midsized businesses across the United States. Its offerings include business lending, deposit accounts, payment processing, payroll, insurance and technology services. NewtekOne provides banking services through Newtek Bank, N.A. and lending through Newtek Small Business Finance, including financing for eligible businesses through the Small Business Administration’s lending programs. Its other services are delivered through affiliated companies and are designed to support businesses’ day-to-day operations.