NewtekOne, Inc. (NASDAQ:NEWT) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 6.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,971 shares of the business services provider’s stock after selling 3,494 shares during the period. Raymond James & Associates owned approximately 0.20% of NewtekOne worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NEWT. Raymond James Financial Services Advisors Inc. acquired a new position in NewtekOne during the third quarter worth $272,000. Kinloch Capital LLC acquired a new position in shares of NewtekOne during the 3rd quarter worth about $196,000. SG Americas Securities LLC acquired a new position in shares of NewtekOne during the 3rd quarter worth about $147,000. Ancora Advisors LLC lifted its stake in NewtekOne by 10.4% in the 3rd quarter. Ancora Advisors LLC now owns 82,806 shares of the business services provider’s stock valued at $1,221,000 after buying an additional 7,811 shares in the last quarter. Finally, Barclays PLC acquired a new stake in NewtekOne in the 2nd quarter worth about $74,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on NewtekOne from $16.00 to $13.00 and set a “market perform” rating for the company in a report on Wednesday, March 20th. Piper Sandler decreased their price objective on NewtekOne from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, B. Riley reaffirmed a “buy” rating and set a $18.00 target price (down previously from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.50.

NewtekOne Stock Performance

NASDAQ NEWT opened at $10.95 on Wednesday. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s fifty day moving average is $11.26 and its two-hundred day moving average is $12.69. The firm has a market capitalization of $270.57 million, a P/E ratio of 6.76 and a beta of 1.25. NewtekOne, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $19.36.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The firm had revenue of $75.60 million for the quarter, compared to analyst estimates of $62.99 million. During the same period in the previous year, the firm posted $0.06 EPS. On average, research analysts anticipate that NewtekOne, Inc. will post 1.83 earnings per share for the current year.

NewtekOne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.94%. NewtekOne’s payout ratio is currently 46.91%.

NewtekOne Company Profile

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.