NewtekOne, Inc. (NASDAQ:NEWT – Free Report) – B. Riley decreased their Q4 2023 earnings per share estimates for shares of NewtekOne in a research note issued to investors on Thursday, November 9th. B. Riley analyst B. Rowe now expects that the business services provider will earn $0.57 per share for the quarter, down from their prior estimate of $0.62. B. Riley has a “Buy” rating and a $21.00 price target on the stock. The consensus estimate for NewtekOne’s current full-year earnings is $1.71 per share. B. Riley also issued estimates for NewtekOne’s Q1 2024 earnings at $0.32 EPS, Q2 2024 earnings at $0.38 EPS, Q3 2024 earnings at $0.43 EPS, Q4 2024 earnings at $0.67 EPS and FY2024 earnings at $1.80 EPS.
NEWT has been the subject of a number of other reports. StockNews.com upgraded NewtekOne from a “sell” rating to a “hold” rating in a research report on Saturday, November 4th. Compass Point lifted their price target on NewtekOne from $10.50 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 30th. Finally, Keefe, Bruyette & Woods lifted their price target on NewtekOne from $12.00 to $20.00 in a research note on Sunday, July 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.50.
NewtekOne Stock Down 2.2 %
NewtekOne stock opened at $13.51 on Monday. The stock has a market capitalization of $333.29 million, a PE ratio of 13.51 and a beta of 1.38. NewtekOne has a 12 month low of $10.75 and a 12 month high of $20.83. The business has a 50 day simple moving average of $14.83 and a 200-day simple moving average of $15.29. The company has a debt-to-equity ratio of 5.70, a current ratio of 2.55 and a quick ratio of 2.55.
Institutional Investors Weigh In On NewtekOne
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEWT. BlackRock Inc. purchased a new stake in NewtekOne in the second quarter valued at $25,934,000. Royce & Associates LP raised its position in NewtekOne by 127.3% in the first quarter. Royce & Associates LP now owns 2,320,044 shares of the business services provider’s stock valued at $29,697,000 after purchasing an additional 1,299,537 shares during the period. Geode Capital Management LLC raised its position in NewtekOne by 3,389.0% in the second quarter. Geode Capital Management LLC now owns 484,204 shares of the business services provider’s stock valued at $7,699,000 after purchasing an additional 470,326 shares during the period. State Street Corp purchased a new stake in shares of NewtekOne in the 2nd quarter valued at $5,979,000. Finally, Putnam Investments LLC purchased a new stake in shares of NewtekOne in the 1st quarter valued at $2,903,000. Hedge funds and other institutional investors own 36.13% of the company’s stock.
Insiders Place Their Bets
In other NewtekOne news, CEO Barry Sloane bought 2,000 shares of NewtekOne stock in a transaction on Thursday, September 7th. The shares were bought at an average price of $17.27 per share, for a total transaction of $34,540.00. Following the completion of the transaction, the chief executive officer now directly owns 1,128,048 shares of the company’s stock, valued at $19,481,388.96. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 9,000 shares of company stock valued at $150,310. Insiders own 6.40% of the company’s stock.
NewtekOne Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Tuesday, October 10th were paid 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 was Friday, October 6th. NewtekOne’s dividend payout ratio (DPR) is currently 72.00%.
NewtekOne Company Profile
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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