NewtekOne (NASDAQ:NEWT) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

NewtekOne, Inc. (NASDAQ:NEWT) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.31 and traded as high as $11.56. NewtekOne shares last traded at $11.6950, with a volume of 131,452 shares.

Analyst Ratings Changes

A number of research firms have commented on NEWT. B. Riley initiated coverage on shares of NewtekOne in a report on Monday, September 15th. They set a “buy” rating and a $18.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $13.00 price target (up previously from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, NewtekOne currently has a consensus rating of “Hold” and an average target price of $14.25.

NewtekOne Price Performance

The stock has a market capitalization of $337.87 million, a price-to-earnings ratio of 5.24 and a beta of 1.26. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day simple moving average is $10.84 and its 200-day simple moving average is $11.31.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%.The firm had revenue of $74.94 million for the quarter, compared to analyst estimates of $78.31 million. Research analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Monday, December 22nd. NewtekOne’s dividend payout ratio (DPR) is 34.08%.

Insider Buying and Selling

In other news, CEO Barry Sloane acquired 10,000 shares of NewtekOne stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $10.22 per share, for a total transaction of $102,200.00. Following the completion of the purchase, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at approximately $12,391,330.98. This represents a 0.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 13,189 shares of company stock valued at $137,736 over the last three months. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently made changes to their positions in NEWT. Jump Financial LLC raised its position in NewtekOne by 217.1% in the first quarter. Jump Financial LLC now owns 33,114 shares of the business services provider’s stock valued at $396,000 after purchasing an additional 22,672 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of NewtekOne by 190.5% in the 2nd quarter. Prudential Financial Inc. now owns 212,228 shares of the business services provider’s stock worth $2,394,000 after purchasing an additional 139,177 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in NewtekOne by 246.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 38,542 shares of the business services provider’s stock valued at $461,000 after acquiring an additional 27,409 shares during the last quarter. Boston Partners acquired a new position in shares of NewtekOne in the 2nd quarter valued at about $801,000. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of NewtekOne by 61.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 68,662 shares of the business services provider’s stock worth $775,000 after buying an additional 26,109 shares in the last quarter. 38.35% of the stock is owned by 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.