NewtekOne (NASDAQ:NEWT) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a report released on Friday morning.

Other equities analysts have also recently issued research reports about the stock. B. Riley raised their price target on shares of NewtekOne from $20.00 to $21.00 and gave the company a buy rating in a research report on Monday, August 14th. Piper Sandler dropped their price target on shares of NewtekOne from $14.00 to $13.00 in a research report on Wednesday, May 10th. Keefe, Bruyette & Woods raised their price target on shares of NewtekOne from $12.00 to $20.00 in a research report on Sunday, July 16th. Finally, Compass Point raised their price target on shares of NewtekOne from $10.50 to $16.00 and gave the company a neutral rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $17.50.

NewtekOne Price Performance

NEWT stock opened at $17.69 on Friday. The stock has a market capitalization of $436.43 million, a PE ratio of 16.23 and a beta of 1.34. The company’s 50-day moving average is $17.47 and its 200-day moving average is $15.07. The company has a debt-to-equity ratio of 5.70, a current ratio of 2.55 and a quick ratio of 2.55. NewtekOne has a 1 year low of $10.75 and a 1 year high of $22.22.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $53.41 million. NewtekOne had a net margin of 15.62% and a return on equity of 12.02%. Equities research analysts expect that NewtekOne will post 1.71 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Monday, July 10th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $0.72 annualized dividend and a dividend yield of 4.07%. NewtekOne’s payout ratio is currently 66.06%.

Insider Transactions at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 2,000 shares of NewtekOne stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $17.57 per share, for a total transaction of $35,140.00. Following the purchase, the chief executive officer now owns 1,126,048 shares of the company’s stock, valued at $19,784,663.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 4,000 shares of company stock worth $65,870 in the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in NewtekOne in the 2nd quarter valued at $31,000. Royal Bank of Canada boosted its holdings in NewtekOne by 1,166.7% in the 1st quarter. Royal Bank of Canada now owns 2,166 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 1,995 shares during the period. Money Concepts Capital Corp bought a new position in NewtekOne in the 4th quarter valued at $62,000. Barclays PLC bought a new position in NewtekOne in the 2nd quarter valued at $74,000. Finally, BNP Paribas Arbitrage SNC bought a new position in NewtekOne in the 3rd quarter valued at $83,000. 36.13% of the stock is owned by institutional investors.

About NewtekOne

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.