NewtekOne (NASDAQ:NEWT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

NewtekOne (NASDAQ:NEWTGet Free Report) had its price target lifted by analysts at Keefe, Bruyette & Woods from $13.00 to $14.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 5.47% from the company’s previous close.

A number of other equities analysts have also recently weighed in on NEWT. Piper Sandler boosted their price target on NewtekOne from $12.50 to $13.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Wall Street Zen raised shares of NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, NewtekOne presently has a consensus rating of “Hold” and an average target price of $14.75.

Check Out Our Latest Research Report on NEWT

NewtekOne Price Performance

NewtekOne stock traded down $1.04 during trading hours on Friday, hitting $13.27. The stock had a trading volume of 79,857 shares, compared to its average volume of 325,651. NewtekOne has a 1-year low of $9.12 and a 1-year high of $14.91. The stock has a market capitalization of $383.49 million, a price-to-earnings ratio of 5.95 and a beta of 1.23. The stock’s fifty day moving average is $12.19 and its two-hundred day moving average is $11.65. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67.

NewtekOne (NASDAQ:NEWTGet Free Report) last issued its quarterly earnings data on Thursday, January 29th. The business services provider reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. The firm had revenue of $55.85 million for the quarter, compared to analysts’ expectations of $80.01 million. As a group, analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Activity at NewtekOne

In related news, insider Michael Adam Schwartz acquired 2,247 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were bought at an average cost of $13.91 per share, with a total value of $31,255.77. Following the completion of the transaction, the insider directly owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barry Sloane acquired 3,595 shares of NewtekOne stock in a transaction on 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 purchase, the chief executive officer 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 SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 21,845 shares of company stock valued at $258,141. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On NewtekOne

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

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About NewtekOne

(Get Free Report)

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.

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