NewtekOne, Inc. (NASDAQ:NEWT) Stock Has Average Target Price of $16.33

NewtekOne, Inc. (NASDAQ:NEWT) has been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.33.

A number of research firms have recently weighed in on NEWT. B. Riley Financial lowered their target price on NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Zacks Research lowered NewtekOne from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Raymond James Financial raised NewtekOne to a “hold” rating in a research note on Wednesday, July 1st. Wall Street Zen cut NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings downgraded NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC grew its holdings in NewtekOne by 7.1% in the 2nd quarter. Squarepoint Ops LLC now owns 173,340 shares of the business services provider’s stock worth $2,567,000 after acquiring an additional 11,533 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of NewtekOne during the second quarter valued at about $2,264,000. Huber Capital Management LLC bought a new position in shares of NewtekOne during the fourth quarter valued at about $978,000. Quantinno Capital Management LP boosted its holdings in shares of NewtekOne by 98.6% during the first quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock worth $882,000 after purchasing an additional 39,990 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of NewtekOne by 26.6% in the first quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider’s stock worth $717,000 after purchasing an additional 13,761 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

NewtekOne Stock Performance

NASDAQ NEWT opened at $10.96 on Friday. The company has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $13.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 7.41. NewtekOne has a 12-month low of $9.59 and a 12-month high of $15.69. The firm has a market cap of $316.63 million, a price-to-earnings ratio of 4.94 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $90.05 million for the quarter, compared to analysts’ expectations of $75.00 million. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%. On average, equities analysts forecast that NewtekOne will post 1.75 EPS for the current year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th were issued a $0.19 dividend. The ex-dividend date was Thursday, September 24th. This represents a $0.76 annualized dividend and a dividend yield of 6.9%. NewtekOne’s dividend payout ratio (DPR) is currently 34.23%.

About NewtekOne

NewtekOne, Inc is a financial holding company that provides banking and business services to small and medium-sized businesses throughout the United States. Through its banking operations and specialized subsidiaries, the company offers commercial lending, deposit products, payment processing, payroll services, insurance solutions, and technology services.

The company’s lending activities include Small Business Administration (SBA) loans and other financing products designed to support business expansion, working capital needs, equipment purchases, and acquisitions.