NewtekOne (NASDAQ:NEWT) Stock Rating Upgraded by Wall Street Zen

NewtekOne (NASDAQ:NEWT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on NEWT. Piper Sandler lifted their price target on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods raised their target price on NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.00.

NewtekOne Trading Up 0.4%

NewtekOne stock opened at $11.78 on Friday. The firm has a 50 day simple moving average of $13.10 and a 200-day simple moving average of $11.88. The company has a debt-to-equity ratio of 6.41, a current ratio of 0.71 and a quick ratio of 0.67. The stock has a market capitalization of $339.62 million, a PE ratio of 5.38 and a beta of 1.25. NewtekOne has a 12-month low of $9.12 and a 12-month high of $14.91.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Thursday, January 29th. The business services provider reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. The firm had revenue of $120.83 million for the quarter, compared to analysts’ expectations of $80.01 million. NewtekOne had a return on equity of 18.83% and a net margin of 15.51%. As a group, equities research analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane bought 3,595 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average cost of $13.91 per share, for a total transaction of $50,006.45. Following the acquisition, the chief executive officer directly owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. The trade was a 0.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Adam Schwartz bought 2,247 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were bought at an average cost of $13.91 per share, for a total transaction of $31,255.77. Following the completion of the transaction, the insider directly owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 9,156 shares of company stock valued at $126,435. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of NewtekOne

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in NewtekOne during the third quarter valued at about $46,000. Quantbot Technologies LP purchased a new position in shares of NewtekOne in the second quarter worth approximately $107,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of NewtekOne during the third quarter valued at approximately $150,000. Cerity Partners LLC lifted its position in shares of NewtekOne by 18.0% in the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock valued at $156,000 after acquiring an additional 2,095 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of NewtekOne in the 3rd quarter valued at approximately $191,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.