NewtekOne, Inc. (NASDAQ:NEWT) Receives $14.50 Average Price Target from Brokerages

NewtekOne, Inc. (NASDAQ:NEWT) has received an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.75.

Several research analysts have recently weighed in on NEWT shares. Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. 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. Finally, Piper Sandler upped their price target on shares of NewtekOne from $12.50 to $13.00 and gave the company a “neutral” rating in a research note on Friday, January 9th.

Insiders Place Their Bets

In related news, CEO Barry Sloane purchased 3,595 shares of NewtekOne stock in a transaction dated Wednesday, January 14th. The stock was bought at an average cost of $13.91 per share, for a total transaction of $50,006.45. Following the completion of the transaction, the chief executive officer owned 1,194,180 shares in the company, valued at $16,611,043.80. This trade represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Adam Schwartz acquired 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the completion of the purchase, the insider owned 49,713 shares in the company, valued at $691,507.83. This trade represents a 4.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 10,845 shares of company stock valued at $145,511 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont purchased a new stake in NewtekOne in the 2nd quarter worth approximately $29,000. Advisory Services Network LLC purchased a new position in NewtekOne during the third quarter worth about $46,000. IFP Advisors Inc increased its stake in NewtekOne by 74.9% in the 2nd quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock worth $77,000 after acquiring an additional 2,901 shares during the last quarter. CWM LLC increased its stake in NewtekOne by 728.7% in the 2nd quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock worth $97,000 after acquiring an additional 7,571 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of NewtekOne in the 2nd quarter valued at about $107,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Stock Down 0.4%

NewtekOne stock opened at $13.44 on Thursday. The firm has a 50 day moving average price of $12.32 and a 200-day moving average price of $11.68. 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 twelve month low of $9.12 and a twelve month high of $14.91. The company has a market capitalization of $388.24 million, a P/E ratio of 6.14 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results 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 net margin of 15.51% and a return on equity of 19.52%. The company had revenue of $55.85 million for the quarter, compared to analysts’ expectations of $80.01 million. As a group, equities analysts predict that NewtekOne will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd were given a dividend of $0.19 per share. The ex-dividend date was Monday, December 22nd. This represents a $0.76 annualized dividend and a dividend yield of 5.7%. NewtekOne’s dividend payout ratio is currently 34.70%.

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.