NewtekOne, Inc. (NASDAQ:NEWT) Given Average Recommendation of “Hold” by Brokerages

NewtekOne, Inc. (NASDAQ:NEWT) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $15.3333.

A number of research analysts have commented on the company. Piper Sandler boosted their target price on NewtekOne from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Raymond James Financial upgraded NewtekOne to a “hold” rating in a report on Wednesday, July 1st. Weiss Ratings cut NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods boosted their price target on NewtekOne from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, May 1st.

NewtekOne Trading Down 1.0%

Shares of NASDAQ:NEWT opened at $12.33 on Friday. The firm has a fifty day moving average of $14.12 and a two-hundred day moving average of $13.18. The firm has a market capitalization of $356.21 million, a P/E ratio of 5.55 and a beta of 1.27. NewtekOne has a 12-month low of $9.59 and a 12-month high of $15.69. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 7.41.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. The business had revenue of $90.05 million for the quarter, compared to the consensus estimate of $75.00 million. On average, equities analysts expect that NewtekOne will post 2.18 EPS for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 24th were paid a $0.19 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a yield of 6.2%. NewtekOne’s payout ratio is 34.23%.

Insider Buying and Selling

In other NewtekOne news, CEO Barry Sloane bought 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,181,914 shares of the company’s stock, valued at approximately $16,783,178.80. The trade was a 0.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 17,500 shares of company stock valued at $246,965 over the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Several institutional investors and hedge funds have recently modified their holdings of NEWT. LPL Financial LLC lifted its holdings in shares of NewtekOne by 3.8% during the fourth quarter. LPL Financial LLC now owns 21,220 shares of the business services provider’s stock worth $241,000 after buying an additional 775 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of NewtekOne by 6.8% in the first quarter. Kestra Advisory Services LLC now owns 18,951 shares of the business services provider’s stock worth $208,000 after acquiring an additional 1,209 shares during the last quarter. Cerity Partners LLC grew its stake in shares of NewtekOne by 18.0% in the fourth quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after acquiring an additional 2,095 shares during the last quarter. Rhumbline Advisers increased its position in NewtekOne by 6.1% during the second quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock worth $411,000 after acquiring an additional 2,108 shares during the period. Finally, Man Group plc increased its position in NewtekOne by 6.1% during the second quarter. Man Group plc now owns 40,138 shares of the business services provider’s stock worth $453,000 after acquiring an additional 2,304 shares during the period. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

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.