Keefe, Bruyette & Woods Cuts NewtekOne (NASDAQ:NEWT) Price Target to $13.00

NewtekOne (NASDAQ:NEWT) had its price objective reduced by Keefe, Bruyette & Woods from $15.00 to $13.00 in a report issued on Thursday morning,Benzinga reports. They currently have a market perform rating on the business services provider’s stock.

Separately, Compass Point raised their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th.

NewtekOne Price Performance

NewtekOne stock opened at $10.38 on Thursday. 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 company has a 50-day moving average price of $11.11 and a 200 day moving average price of $12.55. NewtekOne has a 12-month low of $9.12 and a 12-month high of $15.49. The stock has a market cap of $272.90 million, a P/E ratio of 5.80 and a beta of 1.26.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The firm had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. Sell-side analysts anticipate that NewtekOne will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.32%. NewtekOne’s payout ratio is presently 39.58%.

Hedge Funds Weigh In On NewtekOne

Several hedge funds have recently bought and sold shares of NEWT. Tower Research Capital LLC TRC increased its stake in NewtekOne by 199.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock worth $33,000 after purchasing an additional 1,703 shares during the period. Quantbot Technologies LP acquired a new position in shares of NewtekOne in the fourth quarter valued at approximately $55,000. Nisa Investment Advisors LLC lifted its holdings in NewtekOne by 137.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock worth $56,000 after buying an additional 2,500 shares in the last quarter. Aquatic Capital Management LLC boosted its position in NewtekOne by 66.2% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock valued at $70,000 after buying an additional 2,184 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of NewtekOne in the first quarter worth $126,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Company Profile

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.