NewtekOne (NASDAQ:NEWT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other research firms have also weighed in on NEWT. Piper Sandler boosted their price objective on shares of 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 lifted their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

NewtekOne Stock Performance

NASDAQ NEWT opened at $12.97 on Friday. 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 has a fifty-two week low of $9.12 and a fifty-two week high of $14.91. The business has a fifty day moving average of $12.92 and a 200-day moving average of $11.84. The stock has a market cap of $374.66 million, a price-to-earnings ratio of 5.92 and a beta of 1.25.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Thursday, January 29th. The business services provider reported $0.65 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 firm had revenue of $55.85 million during the quarter, compared to analysts’ expectations of $80.01 million. As a group, analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 3,595 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average cost of $13.91 per share, with a total value of $50,006.45. Following the transaction, the chief executive officer owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This represents a 0.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Adam Schwartz purchased 2,247 shares of the stock in a transaction on Wednesday, January 14th. The shares were purchased at an average cost of $13.91 per share, with a total value of $31,255.77. Following the transaction, the insider owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 10,845 shares of company stock valued at $145,511. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in NewtekOne by 3.8% in the 4th quarter. LPL Financial LLC now owns 21,220 shares of the business services provider’s stock worth $241,000 after acquiring an additional 775 shares during the period. Cerity Partners LLC boosted its stake in shares of NewtekOne by 18.0% in the fourth quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 2,095 shares during the period. Rhumbline Advisers grew its holdings in NewtekOne by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 2,108 shares in the last quarter. Kestra Advisory Services LLC increased its stake in NewtekOne by 13.7% during the 4th quarter. Kestra Advisory Services LLC now owns 17,742 shares of the business services provider’s stock worth $201,000 after buying an additional 2,136 shares during the period. Finally, Man Group plc lifted its holdings in NewtekOne by 6.1% in the 2nd quarter. Man Group plc now owns 40,138 shares of the business services provider’s stock worth $453,000 after buying an additional 2,304 shares in the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

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.