NewtekOne, Inc. (NASDAQ:NEWT) Receives $14.25 Average Target Price from Analysts

NewtekOne, Inc. (NASDAQ:NEWT) has been given a consensus recommendation of “Hold” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.25.

NEWT has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $13.00 price target (up previously from $12.00) on shares of NewtekOne in a report on Friday, September 19th. Wall Street Zen lowered shares of NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler boosted their price objective on shares of NewtekOne from $11.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Finally, B. Riley started coverage on NewtekOne in a research note on Monday, September 15th. They set a “buy” rating and a $18.00 target price for the company.

Insider Transactions at NewtekOne

In other NewtekOne news, CEO Barry Sloane bought 10,000 shares of the stock in a transaction on Monday, November 3rd. The stock was purchased at an average price of $10.22 per share, with a total value of $102,200.00. Following the completion of the purchase, the chief executive officer owned 1,212,459 shares in the company, valued at $12,391,330.98. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Patriot Financial Partners GP II L.P. acquired a new position in NewtekOne during the 3rd quarter worth approximately $26,423,000. Vanguard Group Inc. grew its stake in shares of NewtekOne by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock worth $16,706,000 after buying an additional 26,966 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NewtekOne by 2.3% during the second quarter. Geode Capital Management LLC now owns 630,105 shares of the business services provider’s stock worth $7,109,000 after buying an additional 14,413 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of NewtekOne by 42.9% during the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after buying an additional 187,103 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in shares of NewtekOne by 16.2% in the 1st quarter. Royce & Associates LP now owns 520,035 shares of the business services provider’s stock valued at $6,220,000 after acquiring an additional 72,574 shares during the last quarter. 38.35% of the stock is owned by institutional investors.

NewtekOne Trading Down 2.6%

Shares of NEWT stock opened at $9.79 on Friday. The stock has a 50 day simple moving average of $11.06 and a 200 day simple moving average of $11.25. NewtekOne has a 1 year low of $9.12 and a 1 year high of $14.87. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 5.69. The stock has a market cap of $282.83 million, a P/E ratio of 4.39 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $74.94 million during the quarter, compared to the consensus estimate of $78.31 million. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%. On average, research analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Tuesday, October 14th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Tuesday, October 14th. NewtekOne’s dividend payout ratio is currently 34.08%.

About NewtekOne

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.