B. Riley Financial Cuts NewtekOne (NASDAQ:NEWT) Price Target to $21.00

NewtekOne (NASDAQ:NEWT) had its target price trimmed by B. Riley Financial from $25.00 to $21.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Several other research firms have also recently issued reports on NEWT. Piper Sandler upped their price objective on NewtekOne from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Zacks Research lowered NewtekOne from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Raymond James Financial upgraded 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 report on Saturday, August 15th. Finally, Weiss Ratings lowered shares of NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.33.

NewtekOne Stock Up 3.6%

Shares of NewtekOne stock opened at $12.08 on Monday. NewtekOne has a 52-week low of $9.59 and a 52-week high of $15.69. The company has a 50 day moving average of $13.92 and a 200 day moving average of $13.13. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 7.41. The company has a market capitalization of $348.99 million, a P/E ratio of 5.44 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $90.05 million for the quarter, compared to analyst estimates of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. As a group, research analysts forecast that NewtekOne will post 1.75 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 24th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.3%. NewtekOne’s payout ratio is 34.23%.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane bought 5,000 shares of NewtekOne stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $14.20 per share, with a total value of $71,000.00. Following the acquisition, the chief executive officer owned 1,181,914 shares of the company’s stock, valued at approximately $16,783,178.80. This trade represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 16,500 shares of company stock valued at $234,265. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Partners GP II L.P. purchased a new stake in NewtekOne in the third quarter valued at approximately $26,423,000. Vanguard Group Inc. grew its position in shares of NewtekOne by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock worth $16,706,000 after acquiring an additional 26,966 shares during the last quarter. Marshall Wace LLP grew its position in shares of NewtekOne by 42.9% during the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after acquiring an additional 187,103 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of NewtekOne by 119.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider’s stock valued at $6,234,000 after acquiring an additional 298,830 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of NewtekOne by 1,987.6% in 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 acquiring an additional 340,000 shares during the period. Institutional investors and hedge funds own 38.35% of the company’s stock.

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.