NewtekOne (NASDAQ:NEWT) Upgraded by Raymond James Financial to “Hold” Rating

NewtekOne (NASDAQ:NEWT) was upgraded by research analysts at Raymond James Financial to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently commented on the company. Keefe, Bruyette & Woods upped their target price on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Weiss Ratings cut NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Finally, Wall Street Zen raised NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.00.

NewtekOne Trading Down 3.3%

Shares of NewtekOne stock opened at $14.57 on Wednesday. The company has a debt-to-equity ratio of 6.76, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a fifty day moving average price of $13.57 and a 200 day moving average price of $12.85. NewtekOne has a 1 year low of $9.59 and a 1 year high of $15.34. The stock has a market cap of $420.94 million, a PE ratio of 6.42 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Thursday, April 30th. The business services provider reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $88.18 million for the quarter, compared to analyst estimates of $75.77 million. NewtekOne had a net margin of 16.15% and a return on equity of 19.00%. NewtekOne has set its FY 2027 guidance at 2.400-2.800 EPS. Equities research analysts predict that NewtekOne will post 2.36 earnings per share for the current year.

Insider Activity

In related news, CEO Barry Sloane purchased 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $14.21 per share, with a total value of $156,310.00. Following the purchase, the chief executive officer owned 1,176,914 shares of the company’s stock, valued at $16,723,947.94. The trade was a 0.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders purchased 20,567 shares of company stock worth $288,496. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Large investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC grew its position in shares of NewtekOne by 126.0% in the first quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock valued at $695,000 after purchasing an additional 35,369 shares during the period. Bank of America Corp DE boosted its holdings in NewtekOne by 26.6% in the 1st quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider’s stock worth $717,000 after buying an additional 13,761 shares during the last quarter. Quantinno Capital Management LP increased its stake in NewtekOne by 98.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock worth $882,000 after buying an additional 39,990 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NewtekOne by 36.1% during the 1st quarter. Bank of New York Mellon Corp now owns 138,506 shares of the business services provider’s stock worth $1,517,000 after buying an additional 36,731 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in shares of NewtekOne by 6.8% during the first quarter. Kestra Advisory Services LLC now owns 18,951 shares of the business services provider’s stock valued at $208,000 after acquiring an additional 1,209 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

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.