NewtekOne, Inc. (NASDAQ:NEWT) Receives Consensus Recommendation of “Hold” from Brokerages

NewtekOne, Inc. (NASDAQ:NEWT) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.3333.

NEWT has been the topic of a number of analyst reports. Zacks Research cut shares of NewtekOne from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods increased their price target on shares of NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Weiss Ratings lowered shares of NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Raymond James Financial raised shares of NewtekOne to a “hold” rating in a report on Wednesday, July 1st. Finally, Piper Sandler increased their target price on shares of NewtekOne from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th.

Insider Buying and Selling

In other NewtekOne news, CEO Barry Sloane acquired 5,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $14.20 per share, for a total transaction of $71,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,181,914 shares of the company’s stock, valued at $16,783,178.80. This represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 18,237 shares of company stock valued at $256,959 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ancora Advisors LLC purchased a new stake in NewtekOne in the 2nd quarter worth $46,000. Advisory Services Network LLC purchased a new position in NewtekOne during the third quarter valued at $46,000. Quantbot Technologies LP purchased a new position in NewtekOne during the second quarter valued at $107,000. Dumont & Blake Investment Advisors LLC acquired a new stake in shares of NewtekOne in the first quarter valued at about $118,000. Finally, Cerity Partners LLC grew its position in shares of NewtekOne by 18.0% in the fourth quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 2,095 shares during the period. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Price Performance

Shares of NEWT opened at $12.53 on Friday. The business’s 50-day moving average is $14.20 and its two-hundred day moving average is $13.21. The company has a market capitalization of $361.99 million, a P/E ratio of 5.64 and a beta of 1.27. NewtekOne has a fifty-two week low of $9.59 and a fifty-two week high of $15.69. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.65 and a current ratio of 0.65.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $90.05 million for the quarter, compared to the consensus estimate of $75.00 million. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%. Research analysts predict that NewtekOne will post 2.18 earnings per share for the current year.

NewtekOne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 24th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a yield of 6.1%. NewtekOne’s dividend payout ratio is currently 34.23%.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.