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

NewtekOne, Inc. (NASDAQ:NEWT) has earned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $15.3333.

A number of research firms recently commented on NEWT. Piper Sandler upped their price objective on NewtekOne from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Raymond James Financial raised NewtekOne to a “hold” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Zacks Research lowered NewtekOne from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods increased their price target on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, May 1st.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane purchased 5,000 shares of NewtekOne stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $14.20 per share, with a total value of $71,000.00. Following the purchase, the chief executive officer owned 1,181,914 shares of the company’s stock, valued at approximately $16,783,178.80. The trade was a 0.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 17,500 shares of company stock worth $246,965 in the last ninety days. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewtekOne

Hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP increased its holdings in NewtekOne by 17.1% in the 2nd quarter. Corient Private Wealth LP now owns 15,673 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 2,289 shares during the last quarter. California State Teachers Retirement System lifted its stake in NewtekOne by 283.0% during the second quarter. California State Teachers Retirement System now owns 5,109 shares of the business services provider’s stock worth $76,000 after purchasing an additional 3,775 shares in the last quarter. Ancora Advisors LLC acquired a new position in NewtekOne during the second quarter worth $46,000. Bank of New York Mellon Corp purchased a new position in shares of NewtekOne during the second quarter worth $2,264,000. Finally, Segall Bryant & Hamill LLC boosted its position in shares of NewtekOne by 126.0% during the first quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock worth $695,000 after buying an additional 35,369 shares during the period. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Price Performance

Shares of NEWT stock opened at $11.91 on Friday. The company has a debt-to-equity ratio of 7.41, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $344.08 million, a PE ratio of 5.36 and a beta of 1.27. The firm’s 50-day moving average is $14.05 and its two-hundred day moving average is $13.16. NewtekOne has a 12 month low of $9.59 and a 12 month high of $15.69.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $90.05 million during the quarter, compared to analysts’ expectations of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. Analysts predict that NewtekOne will post 2.18 earnings per share for the current year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 24th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Wednesday, June 24th. NewtekOne’s dividend payout ratio (DPR) is 34.23%.

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.