NewtekOne (NASDAQ:NEWT) Lifted to “Hold” at StockNews.com

NewtekOne (NASDAQ:NEWT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

NEWT has been the topic of a number of other reports. Piper Sandler reduced their target price on shares of NewtekOne from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Keefe, Bruyette & Woods cut their price objective on shares of NewtekOne from $16.00 to $13.00 and set a “market perform” rating on the stock in a report on Wednesday, March 20th. Finally, B. Riley restated a “buy” rating and set a $18.00 target price (down from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.50.

NewtekOne Price Performance

NEWT opened at $12.59 on Tuesday. NewtekOne has a 52-week low of $10.07 and a 52-week high of $19.36. The company has a 50 day moving average of $11.23 and a two-hundred day moving average of $12.50. The company has a market cap of $322.81 million, a P/E ratio of 7.77 and a beta of 1.23. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The company had revenue of $75.60 million during the quarter, compared to analyst estimates of $62.99 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, analysts expect that NewtekOne will post 1.83 earnings per share for the current year.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in NewtekOne by 124.5% in the first quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after buying an additional 7,961 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of NewtekOne by 2.9% during the 1st quarter. Arkadios Wealth Advisors now owns 47,279 shares of the business services provider’s stock valued at $520,000 after acquiring an additional 1,344 shares in the last quarter. Ridgewood Investments LLC lifted its stake in NewtekOne by 15.4% during the first quarter. Ridgewood Investments LLC now owns 52,485 shares of the business services provider’s stock worth $577,000 after purchasing an additional 7,000 shares during the last quarter. Cape Investment Advisory Inc. acquired a new position in NewtekOne in the fourth quarter worth $89,000. Finally, Jump Financial LLC bought a new stake in NewtekOne during the fourth quarter valued at $155,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.