NewtekOne (NASDAQ:NEWT) Stock Crosses Above 200-Day Moving Average – Here’s Why

NewtekOne, Inc. (NASDAQ:NEWT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.96 and traded as high as $13.14. NewtekOne shares last traded at $12.88, with a volume of 202,393 shares changing hands.

Analysts Set New Price Targets

Several research firms have commented on NEWT. B. Riley lifted their price target on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 target price (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th. Finally, Piper Sandler upped their price target on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th.

NewtekOne Trading Down 0.2 %

The company has a 50 day simple moving average of $12.99 and a 200 day simple moving average of $12.96. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a market capitalization of $338.87 million, a PE ratio of 7.20 and a beta of 1.31.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.90%. The ex-dividend date was Tuesday, December 31st. NewtekOne’s dividend payout ratio (DPR) is presently 42.46%.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $12.95 per share, with a total value of $38,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 7,750 shares of company stock worth $105,618 in the last three months. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after buying an additional 1,835 shares during the period. Tower Research Capital LLC TRC raised its position in NewtekOne by 199.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock worth $33,000 after acquiring an additional 1,703 shares in the last quarter. Quantbot Technologies LP acquired a new stake in NewtekOne in the fourth quarter valued at $55,000. Nisa Investment Advisors LLC lifted its holdings in NewtekOne by 137.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 2,500 shares during the period. Finally, Aquatic Capital Management LLC boosted its position in shares of NewtekOne by 66.2% during the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock worth $70,000 after purchasing an additional 2,184 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.