NewtekOne, Inc. (NASDAQ:NEWT – Free Report) – Stock analysts at B. Riley cut their FY2023 earnings estimates for NewtekOne in a research note issued to investors on Thursday, November 9th. B. Riley analyst B. Rowe now forecasts that the business services provider will post earnings of $1.68 per share for the year, down from their prior forecast of $1.69. B. Riley currently has a “Buy” rating and a $21.00 target price on the stock. The consensus estimate for NewtekOne’s current full-year earnings is $1.71 per share.
NEWT has been the subject of several other research reports. Compass Point lifted their target price on NewtekOne from $10.50 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 30th. Keefe, Bruyette & Woods boosted their price target on NewtekOne from $12.00 to $20.00 in a research report on Sunday, July 16th. Finally, StockNews.com raised NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, November 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.50.
NewtekOne Stock Down 2.2 %
Shares of NEWT stock opened at $13.51 on Friday. The firm’s fifty day moving average price is $14.83 and its two-hundred day moving average price is $15.23. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 5.70. NewtekOne has a 1 year low of $10.75 and a 1 year high of $20.83. The firm has a market capitalization of $333.29 million, a P/E ratio of 13.51 and a beta of 1.38.
Institutional Investors Weigh In On NewtekOne
Several hedge funds have recently added to or reduced their stakes in NEWT. Rhumbline Advisers increased its holdings in shares of NewtekOne by 6.8% in the third quarter. Rhumbline Advisers now owns 28,920 shares of the business services provider’s stock valued at $427,000 after purchasing an additional 1,852 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of NewtekOne by 25.3% during the 3rd quarter. Deutsche Bank AG now owns 10,266 shares of the business services provider’s stock worth $151,000 after buying an additional 2,071 shares during the period. UBS Group AG boosted its holdings in shares of NewtekOne by 15.9% during the 3rd quarter. UBS Group AG now owns 55,587 shares of the business services provider’s stock worth $820,000 after buying an additional 7,616 shares during the period. Charles Schwab Investment Management Inc. grew its stake in NewtekOne by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 181,754 shares of the business services provider’s stock valued at $2,681,000 after buying an additional 1,873 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in NewtekOne by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 72,151 shares of the business services provider’s stock valued at $1,064,000 after acquiring an additional 1,798 shares during the period. Institutional investors and hedge funds own 36.13% of the company’s stock.
Insiders Place Their Bets
In other NewtekOne news, CEO Barry Sloane acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $17.57 per share, with a total value of $35,140.00. Following the completion of the transaction, the chief executive officer now directly owns 1,126,048 shares in the company, valued at approximately $19,784,663.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 9,000 shares of company stock valued at $150,310 over the last 90 days. 6.40% of the stock is currently owned by insiders.
NewtekOne Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Tuesday, October 10th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Friday, October 6th. NewtekOne’s dividend payout ratio (DPR) is presently 72.00%.
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.
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