NewtekOne, Inc. (NASDAQ:NEWT) Receives Average Recommendation of “Hold” from Brokerages

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have received a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.25.

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 price objective (up previously from $12.00) on shares of NewtekOne in a report on Friday, September 19th. Finally, B. Riley started coverage on NewtekOne in a research report on Monday, September 15th. They set a “buy” rating and a $18.00 price target on the stock.

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane acquired 10,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $10.22 per share, with a total value of $102,200.00. Following the acquisition, the chief executive officer owned 1,212,459 shares of the company’s stock, valued at approximately $12,391,330.98. The trade was a 0.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 12,689 shares of company stock worth $131,706 in the last three months. Insiders own 6.70% of the company’s stock.

Institutional Trading of NewtekOne

A number of institutional investors have recently modified their holdings of the company. Patriot Financial Partners GP II L.P. purchased a new position in shares of NewtekOne during the 3rd quarter worth approximately $26,423,000. Vanguard Group Inc. boosted its holdings in shares of NewtekOne by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock valued at $16,706,000 after buying an additional 26,966 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NewtekOne by 2.3% in the 2nd 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 during the period. Marshall Wace LLP grew its holdings in NewtekOne by 42.9% in the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after purchasing an additional 187,103 shares during the period. Finally, North Reef Capital Management LP purchased a new stake in shares of NewtekOne in the 3rd quarter worth approximately $4,430,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

NewtekOne Price Performance

NEWT stock opened at $11.35 on Wednesday. The company’s fifty day simple moving average is $10.65 and its 200 day simple moving average is $11.23. NewtekOne has a 12-month low of $9.12 and a 12-month high of $14.44. The firm has a market cap of $327.87 million, a price-to-earnings ratio of 5.09 and a beta of 1.26. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. The company had revenue of $74.94 million for the quarter, compared to the consensus estimate of $78.31 million. On average, analysts expect that NewtekOne will post 1.93 earnings per share for the current 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 $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Tuesday, October 14th. NewtekOne’s dividend payout ratio (DPR) is 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.