NewtekOne, Inc. (NASDAQ:NEWT) Given Consensus Rating of “Hold” by Brokerages

NewtekOne, Inc. (NASDAQ:NEWT) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has assigned 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 $15.00.

Several brokerages have recently weighed in on NEWT. Wall Street Zen cut shares of NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Finally, Piper Sandler lifted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, February 9th.

Insider Activity

In related news, CEO Barry Sloane purchased 3,595 shares of the stock in a transaction on Wednesday, January 14th. The shares were purchased at an average price of $13.91 per share, with a total value of $50,006.45. Following the transaction, the chief executive officer directly owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This trade represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Adam Schwartz acquired 2,247 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were bought at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the purchase, the insider owned 49,713 shares in the company, valued at approximately $691,507.83. This represents a 4.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 10,845 shares of company stock worth $145,511 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in NewtekOne by 33.4% during the first quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider’s stock worth $282,000 after acquiring an additional 5,916 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of NewtekOne by 306.4% during the 1st quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider’s stock worth $2,012,000 after purchasing an additional 126,865 shares during the last quarter. Jane Street Group LLC increased its stake in shares of NewtekOne by 24.7% during the 1st quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider’s stock worth $439,000 after purchasing an additional 7,274 shares during the last quarter. CWM LLC raised its holdings in shares of NewtekOne by 728.7% in the 2nd quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock valued at $97,000 after purchasing an additional 7,571 shares during the period. Finally, Corton Capital Inc. lifted its stake in NewtekOne by 150.8% in the 2nd quarter. Corton Capital Inc. now owns 28,311 shares of the business services provider’s stock valued at $319,000 after purchasing an additional 17,023 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

NewtekOne Stock Performance

NEWT opened at $12.97 on Monday. The company has a market capitalization of $374.70 million, a price-to-earnings ratio of 5.92 and a beta of 1.25. The business’s 50-day moving average price is $12.92 and its two-hundred day moving average price is $11.85. NewtekOne has a 1 year low of $9.12 and a 1 year high of $14.91. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Thursday, January 29th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. NewtekOne had a return on equity of 19.52% and a net margin of 15.51%.The business had revenue of $55.85 million during the quarter, compared to the consensus estimate of $80.01 million. Equities analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 22nd were issued a $0.19 dividend. The ex-dividend date was Monday, December 22nd. This represents a $0.76 annualized dividend and a dividend yield of 5.9%. NewtekOne’s dividend payout ratio (DPR) is presently 34.70%.

About NewtekOne

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.