NewtekOne (NASDAQ:NEWT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

NewtekOne, Inc. (NASDAQ:NEWT)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.80 and traded as high as $13.00. NewtekOne shares last traded at $12.72, with a volume of 318,635 shares.

Analyst Upgrades and Downgrades

NEWT has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their target price on NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Finally, Wall Street Zen raised shares of NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

NewtekOne Trading Down 1.9%

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 5.69. The firm has a market capitalization of $367.48 million, a price-to-earnings ratio of 5.81 and a beta of 1.25. The firm’s 50-day moving average is $12.81 and its 200 day moving average is $11.80.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $55.85 million during the quarter, compared to the consensus estimate of $80.01 million. NewtekOne had a return on equity of 19.52% and a net margin of 15.51%. On average, equities analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 22nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.76 annualized dividend and a yield of 6.0%. NewtekOne’s dividend payout ratio (DPR) is currently 34.70%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NEWT. Advisory Services Network LLC bought a new position in NewtekOne during the 3rd quarter valued at $46,000. IFP Advisors Inc grew its position in shares of NewtekOne by 74.9% during the 2nd quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 2,901 shares during the period. CWM LLC increased its position in NewtekOne by 728.7% in the second quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock worth $97,000 after buying an additional 7,571 shares during the last quarter. Quantbot Technologies LP purchased a new stake in NewtekOne in the 2nd quarter worth about $107,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of NewtekOne in the third quarter valued at approximately $150,000. Institutional investors 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.