NewtekOne (NASDAQ:NEWT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NewtekOne (NASDAQ:NEWT) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other research analysts also recently commented on the company. Piper Sandler increased their target price on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods boosted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.00.

NewtekOne Price Performance

NASDAQ:NEWT opened at $11.88 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 6.41. The company has a market capitalization of $342.50 million, a P/E ratio of 5.42 and a beta of 1.25. NewtekOne has a 12 month low of $9.12 and a 12 month high of $14.91. The business’s 50-day moving average is $13.10 and its 200 day moving average is $11.87.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. NewtekOne had a return on equity of 18.83% and a net margin of 15.51%.The business had revenue of $120.83 million during the quarter, compared to analysts’ expectations of $80.01 million. On average, equities research analysts forecast that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.76 annualized dividend and a dividend yield of 6.4%. NewtekOne’s payout ratio is currently 34.70%.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane acquired 3,595 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was bought at an average cost of $13.91 per share, with a total value of $50,006.45. Following the completion of the purchase, the chief executive officer directly owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Adam Schwartz acquired 2,247 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the transaction, the insider directly owned 49,713 shares of the company’s stock, valued at approximately $691,507.83. The trade was a 4.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 8,656 shares of company stock worth $120,405 in the last 90 days. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewtekOne

Several institutional investors have recently made changes to their positions in NEWT. Advisory Services Network LLC purchased a new position in shares of NewtekOne during the 3rd quarter worth about $46,000. Quantbot Technologies LP purchased a new stake in NewtekOne in the 2nd quarter worth about $107,000. Wealth Enhancement Advisory Services LLC purchased a new stake in NewtekOne in the 3rd quarter worth about $150,000. Cerity Partners LLC lifted its stake in NewtekOne by 18.0% in the fourth quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after purchasing an additional 2,095 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of NewtekOne during the third quarter valued at approximately $191,000. 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.