NewtekOne (NASDAQ:NEWT) Cut to “Neutral” at B. Riley

B. Riley lowered shares of NewtekOne (NASDAQ:NEWT) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat.com reports. They currently have $13.00 target price on the business services provider’s stock, down from their prior target price of $16.00. B. Riley also issued estimates for NewtekOne’s Q3 2024 earnings at $0.37 EPS, FY2024 earnings at $1.78 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $1.92 EPS.

Separately, StockNews.com upgraded shares of NewtekOne from a sell rating to a hold rating in a report on Tuesday, May 7th.

NewtekOne Trading Down 3.4 %

NewtekOne stock opened at $11.26 on Wednesday. NewtekOne has a 12 month low of $10.07 and a 12 month high of $17.58. The company has a market capitalization of $278.50 million, a price-to-earnings ratio of 7.26 and a beta of 1.30. The business’s fifty day simple moving average is $13.04 and its two-hundred day simple moving average is $12.32. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. During the same quarter in the previous year, the business posted $0.26 EPS. As a group, equities analysts predict that NewtekOne will post 1.92 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.75%. NewtekOne’s dividend payout ratio is presently 49.03%.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane bought 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was acquired at an average price of $12.92 per share, with a total value of $64,600.00. Following the transaction, the chief executive officer now owns 1,140,674 shares in the company, valued at approximately $14,737,508.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other NewtekOne news, CEO Barry Sloane acquired 5,000 shares of the stock in a transaction dated Monday, June 17th. The shares were purchased at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the purchase, the chief executive officer now directly owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Scott Price acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the acquisition, the chief financial officer now owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,649 shares of company stock worth $183,352 over the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

A number of hedge funds have recently modified their holdings of NEWT. Ancora Advisors LLC raised its holdings in NewtekOne by 43.5% in the 1st quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider’s stock worth $1,440,000 after purchasing an additional 39,659 shares during the period. Jump Financial LLC purchased a new position in shares of NewtekOne during the 4th quarter valued at about $155,000. Vanguard Group Inc. grew its stake in shares of NewtekOne by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock valued at $15,055,000 after acquiring an additional 17,505 shares during the period. Cape Investment Advisory Inc. purchased a new stake in NewtekOne in the 4th quarter worth approximately $89,000. Finally, BNP Paribas Financial Markets raised its stake in NewtekOne by 124.5% during the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock worth $158,000 after acquiring an additional 7,961 shares during the period. Institutional investors own 38.35% of the company’s stock.

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.