FY2024 Earnings Forecast for NewtekOne, Inc. Issued By B. Riley (NASDAQ:NEWT)

NewtekOne, Inc. (NASDAQ:NEWT) – Analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for NewtekOne in a research report issued to clients and investors on Wednesday, May 8th. B. Riley analyst B. Rowe now forecasts that the business services provider will post earnings of $1.83 per share for the year, up from their previous forecast of $1.81. B. Riley has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for NewtekOne’s current full-year earnings is $1.83 per share.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. The business had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $62.99 million. During the same quarter in the previous year, the firm posted $0.06 EPS.

A number of other equities research analysts have also commented on NEWT. Piper Sandler dropped their target price on NewtekOne from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Keefe, Bruyette & Woods dropped their target price on NewtekOne from $16.00 to $13.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 20th. Finally, StockNews.com upgraded NewtekOne from a “sell” rating to a “hold” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, NewtekOne presently has an average rating of “Hold” and an average price target of $14.50.

NewtekOne Price Performance

Shares of NEWT stock opened at $13.06 on Friday. The stock’s 50-day simple moving average is $11.26 and its 200-day simple moving average is $12.50. The firm has a market capitalization of $334.86 million, a price-to-earnings ratio of 8.06 and a beta of 1.23. NewtekOne has a fifty-two week low of $10.07 and a fifty-two week high of $19.36. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.10 and a current ratio of 1.10.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. acquired a new position in shares of NewtekOne during the 4th quarter worth approximately $89,000. SG Americas Securities LLC acquired a new position in shares of NewtekOne during the 3rd quarter worth approximately $147,000. SeaBridge Investment Advisors LLC acquired a new position in shares of NewtekOne during the 4th quarter worth approximately $138,000. Jump Financial LLC acquired a new position in shares of NewtekOne during the 4th quarter worth approximately $155,000. Finally, Kinloch Capital LLC acquired a new position in shares of NewtekOne during the 3rd quarter worth approximately $196,000. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 5.82%. NewtekOne’s payout ratio is presently 46.91%.

NewtekOne Company Profile

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.