NewtekOne (NASDAQ:NEWT) Stock Rating Upgraded by Zacks Research

NewtekOne (NASDAQ:NEWT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

NEWT has been the topic of a number of other research reports. Wall Street Zen lowered NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, October 26th. B. Riley Financial lowered their target price on shares of NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Finally, Piper Sandler cut their price objective on NewtekOne from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.33.

NewtekOne Price Performance

Shares of NewtekOne stock opened at $10.79 on Tuesday. NewtekOne has a twelve month low of $9.59 and a twelve month high of $15.69. The firm has a market cap of $311.60 million, a P/E ratio of 5.71 and a beta of 1.30. The firm’s 50-day simple moving average is $11.35 and its 200-day simple moving average is $12.72. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.65 and a current ratio of 0.76.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, October 28th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). NewtekOne had a return on equity of 15.58% and a net margin of 13.58%. The company had revenue of $71.79 million during the quarter, compared to analyst estimates of $77.10 million. As a group, research analysts expect that NewtekOne will post 1.74 EPS for the current fiscal year.

Institutional Investors Weigh In On NewtekOne

Several hedge funds have recently bought and sold shares of NEWT. Ieq Capital LLC boosted its stake in NewtekOne by 7.7% in the 3rd quarter. Ieq Capital LLC now owns 55,105 shares of the business services provider’s stock valued at $613,000 after purchasing an additional 3,921 shares during the period. Kestra Advisory Services LLC increased its stake in NewtekOne by 8.5% in the third quarter. Kestra Advisory Services LLC now owns 20,674 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 1,613 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of NewtekOne in the 2nd quarter valued at $193,000. Squarepoint Ops LLC raised its stake in NewtekOne by 7.1% during the second quarter. Squarepoint Ops LLC now owns 173,340 shares of the business services provider’s stock worth $2,567,000 after acquiring an additional 11,533 shares in the last quarter. Finally, Corient Private Wealth LP increased its position in NewtekOne by 17.1% during the 2nd quarter. Corient Private Wealth LP now owns 15,673 shares of the business services provider’s stock worth $233,000 after purchasing an additional 2,289 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

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.