StockNews.com Begins Coverage on NewtekOne (NASDAQ:NEWT)

StockNews.com initiated coverage on shares of NewtekOne (NASDAQ:NEWT – Get Rating) in a research report report published on Thursday morning. The firm issued a sell rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on NEWT. Piper Sandler initiated coverage on shares of NewtekOne in a research report on Wednesday, February 22nd. They issued a neutral rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of NewtekOne from $18.00 to $19.00 and gave the stock a market perform rating in a research report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, NewtekOne currently has a consensus rating of Hold and a consensus price target of $17.00.

NewtekOne Price Performance

Shares of NASDAQ NEWT opened at $11.41 on Thursday. The firm has a 50-day simple moving average of $17.44 and a 200-day simple moving average of $17.36. The stock has a market capitalization of $280.91 million, a price-to-earnings ratio of 8.51 and a beta of 1.29. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.22. NewtekOne has a 52 week low of $11.19 and a 52 week high of $27.89.

NewtekOne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Tuesday, April 4th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend is Monday, April 3rd. NewtekOne’s payout ratio is currently 208.96%.

Insider Buying and Selling

In other news, CEO Barry Sloane acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was purchased at an average cost of $15.32 per share, for a total transaction of $153,200.00. Following the completion of the transaction, the chief executive officer now owns 1,108,048 shares in the company, valued at $16,975,295.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors have recently made changes to their positions in the stock. Tradition Wealth Management LLC increased its position in shares of NewtekOne by 3.6% during the fourth quarter. Tradition Wealth Management LLC now owns 14,828 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 522 shares during the last quarter. AE Wealth Management LLC increased its position in shares of NewtekOne by 6.7% during the fourth quarter. AE Wealth Management LLC now owns 11,103 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 693 shares during the last quarter. BDO Wealth Advisors LLC increased its position in shares of NewtekOne by 83.3% during the third quarter. BDO Wealth Advisors LLC now owns 2,200 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 1,000 shares during the last quarter. IFP Advisors Inc increased its position in shares of NewtekOne by 81.5% during the third quarter. IFP Advisors Inc now owns 2,450 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in shares of NewtekOne by 2.7% in the third quarter. Arkadios Wealth Advisors now owns 46,328 shares of the business services provider’s stock valued at $756,000 after purchasing an additional 1,237 shares during the period. 14.91% of the stock is currently owned by institutional investors and hedge funds.

About NewtekOne

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NewtekOne, Inc is a non-diversified closed-end management investment company engaged in the provision of business and financial solutions. It offers loans, payments, payroll and benefits, web solutions, insurance, and technology solutions. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.