B. Riley Financial Has Lowered Expectations for NewtekOne (NASDAQ:NEWT) Stock Price

NewtekOne (NASDAQ:NEWT) had its price target decreased by equities researchers at B. Riley Financial from $25.00 to $21.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. B. Riley Financial’s target price indicates a potential upside of 78.88% from the stock’s previous close.

A number of other equities analysts have also recently commented on NEWT. Weiss Ratings cut NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 18th. Raymond James Financial raised shares of NewtekOne to a “hold” rating in a research report on Wednesday, July 1st. Zacks Research cut shares of NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Piper Sandler upped 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. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NewtekOne has an average rating of “Hold” and a consensus price target of $16.33.

NewtekOne Trading Down 1.4%

NASDAQ NEWT traded down $0.17 on Monday, reaching $11.74. The stock had a trading volume of 121,700 shares, compared to its average volume of 238,894. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 7.41. The stock has a fifty day moving average price of $14.05 and a two-hundred day moving average price of $13.16. NewtekOne has a 12-month low of $9.59 and a 12-month high of $15.69. The firm has a market capitalization of $339.17 million, a price-to-earnings ratio of 5.29 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%.The business had revenue of $90.05 million during the quarter, compared to analyst estimates of $75.00 million. As a group, sell-side analysts forecast that NewtekOne will post 2.18 EPS for the current fiscal year.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane bought 11,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $14.21 per share, for a total transaction of $156,310.00. Following the completion of the purchase, the chief executive officer owned 1,176,914 shares of the company’s stock, valued at approximately $16,723,947.94. This represents a 0.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 17,500 shares of company stock worth $246,965 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Large investors have recently modified their holdings of the company. Ancora Advisors LLC acquired a new stake in shares of NewtekOne in the 2nd quarter valued at $46,000. Advisory Services Network LLC acquired a new position in shares of NewtekOne during the third quarter worth $46,000. California State Teachers Retirement System grew its stake in shares of NewtekOne by 283.0% during the second quarter. California State Teachers Retirement System now owns 5,109 shares of the business services provider’s stock worth $76,000 after purchasing an additional 3,775 shares in the last quarter. Quantbot Technologies LP purchased a new position in NewtekOne in the second quarter valued at $107,000. Finally, Dumont & Blake Investment Advisors LLC purchased a new position in NewtekOne in the first quarter valued at $118,000. 38.35% of the stock is owned by hedge funds and other institutional investors.

About NewtekOne

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.