NewtekOne (NASDAQ:NEWT) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

NewtekOne, Inc. (NASDAQ:NEWT)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.81 and traded as low as $10.40. NewtekOne shares last traded at $10.57, with a volume of 231,483 shares traded.

Wall Street Analyst Weigh In

NEWT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted 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. Piper Sandler increased their target price on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

NewtekOne Trading Up 1.1%

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 6.41. The firm has a market cap of $304.73 million, a P/E ratio of 4.83 and a beta of 1.25. The firm’s fifty day moving average is $12.63 and its two-hundred day moving average is $11.81.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Thursday, January 29th. The business services provider reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $120.83 million during 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%. Analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 24th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Tuesday, March 24th. NewtekOne’s dividend payout ratio is 34.70%.

Insider Buying and Selling

In related news, CEO Barry Sloane purchased 3,595 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were purchased at an average cost 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 in the company, valued at $16,611,043.80. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Adam Schwartz purchased 2,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the purchase, the insider directly owned 49,713 shares in the company, valued at $691,507.83. The trade was 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 bought 8,656 shares of company stock worth $120,405. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Several institutional investors and hedge funds have recently modified their holdings of NEWT. Patriot Financial Partners GP II L.P. bought a new position in NewtekOne in the 3rd quarter worth about $26,423,000. North Reef Capital Management LP bought a new stake in NewtekOne during the 3rd quarter valued at about $4,430,000. Price T Rowe Associates Inc. MD increased its stake in NewtekOne by 1,987.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 357,106 shares of the business services provider’s stock valued at $4,054,000 after purchasing an additional 340,000 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in NewtekOne by 119.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider’s stock worth $6,234,000 after buying an additional 298,830 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in NewtekOne by 111.5% in the second quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider’s stock worth $4,014,000 after buying an additional 187,578 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors.

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.