NewtekOne (NASDAQ:NEWT) Upgraded at Zacks Research

NewtekOne (NASDAQ:NEWT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen cut shares of NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. B. Riley Financial cut their target price on shares of NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, August 31st. Weiss Ratings cut shares of NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, October 26th. Finally, Piper Sandler reduced their price target on shares of NewtekOne from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, NewtekOne has an average rating of “Hold” and a consensus price target of $15.33.

NewtekOne Stock Performance

NASDAQ NEWT opened at $10.79 on Tuesday. NewtekOne has a 1-year low of $9.59 and a 1-year high of $15.69. The company has a market capitalization of $311.60 million, a P/E ratio of 5.71 and a beta of 1.30. The business has a 50 day moving average price of $11.35 and a 200 day moving average price of $12.72. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.76 and a quick ratio of 0.65.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, October 28th. The business services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). NewtekOne had a return on equity of 15.58% and a net margin of 13.58%. The firm had revenue of $71.79 million for the quarter, compared to analysts’ expectations of $77.10 million. Sell-side analysts expect that NewtekOne will post 1.74 EPS for the current fiscal year.

Institutional Trading of NewtekOne

A number of large investors have recently made changes to their positions in NEWT. Bank of New York Mellon Corp purchased a new stake in NewtekOne during the 2nd quarter worth about $2,264,000. Quantinno Capital Management LP lifted its holdings in NewtekOne by 98.6% in the 1st quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock valued at $882,000 after purchasing an additional 39,990 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in NewtekOne by 126.0% in the 1st 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of NewtekOne by 26.6% during the 1st quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider’s stock worth $717,000 after purchasing an additional 13,761 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of NewtekOne during the 2nd quarter worth about $193,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

NewtekOne, Inc. is a financial holding company that provides banking and business services to small and midsized businesses across the United States. Its offerings include business lending, deposit accounts, payment processing, payroll, insurance and technology services. NewtekOne provides banking services through Newtek Bank, N.A. and lending through Newtek Small Business Finance, including financing for eligible businesses through the Small Business Administration’s lending programs. Its other services are delivered through affiliated companies and are designed to support businesses’ day-to-day operations.