NewtekOne (NASDAQ:NEWT) Stock Gets Price Target Trim from Piper Sandler

NewtekOne (NASDAQ:NEWT) had its price target decreased by Piper Sandler from $13.00 to $12.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the business services provider’s stock.

A number of other research analysts have also issued reports on NEWT. Weiss Ratings lowered shares of NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. B. Riley Financial decreased their price target on shares of NewtekOne from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, August 31st. Zacks Research downgraded shares of NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Raymond James Financial raised shares of NewtekOne to a “hold” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.33.

NewtekOne Stock Performance

NASDAQ NEWT opened at $10.76 on Thursday. NewtekOne has a fifty-two week low of $9.59 and a fifty-two week high of $15.69. The stock has a market cap of $310.86 million, a price-to-earnings ratio of 5.69 and a beta of 1.30. The business has a fifty day moving average of $11.56 and a 200-day moving average of $12.85. 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 (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, October 28th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.11). The company had revenue of $71.78 million during the quarter, compared to analysts’ expectations of $77.10 million. NewtekOne had a net margin of 13.58% and a return on equity of 15.72%. As a group, analysts predict that NewtekOne will post 1.75 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders 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 yield of 7.1%. NewtekOne’s payout ratio is 40.21%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NEWT. Bank of New York Mellon Corp purchased a new stake in NewtekOne in the second quarter valued at approximately $2,264,000. Quantinno Capital Management LP increased its position in 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 last quarter. Segall Bryant & Hamill LLC raised its stake in NewtekOne by 126.0% during the first quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock worth $695,000 after purchasing an additional 35,369 shares during the period. Bank of America Corp DE raised its stake in NewtekOne by 26.6% during 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 period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of NewtekOne in the 2nd quarter valued at $193,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

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. The company operates primarily through Newtek Bank, National Association, a national bank that offers commercial lending, Small Business Administration (SBA) loans, business deposit accounts and treasury management services.

NewtekOne’s offerings are designed to address a range of business needs, including working capital, commercial real estate and equipment financing, payment processing, payroll, insurance and technology-related services.