NewtekOne, Inc. (NASDAQ:NEWT) Receives $14.25 Average Target Price from Brokerages

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have earned an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $14.25.

Several brokerages have issued reports on NEWT. Wall Street Zen cut shares of NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $13.00 price objective (up from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Finally, B. Riley began coverage on NewtekOne in a research note on Monday, September 15th. They set a “buy” rating and a $18.00 target price on the stock.

NewtekOne Trading Up 2.3%

NewtekOne stock opened at $12.09 on Wednesday. NewtekOne has a 12 month low of $9.12 and a 12 month high of $13.74. The company has a market capitalization of $349.28 million, a price-to-earnings ratio of 5.42 and a beta of 1.26. The business’s fifty day simple moving average is $10.71 and its two-hundred day simple moving average is $11.27. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 5.69.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $74.94 million during the quarter, compared to analyst estimates of $78.31 million. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%. As a group, equities analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 22nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.76 annualized dividend and a dividend yield of 6.3%. NewtekOne’s dividend payout ratio (DPR) is 34.08%.

Insider Buying and Selling

In other NewtekOne news, CEO Barry Sloane bought 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $10.22 per share, with a total value of $102,200.00. Following the transaction, the chief executive officer owned 1,212,459 shares in the company, valued at $12,391,330.98. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 13,189 shares of company stock valued at $137,736. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of NewtekOne

A number of large investors have recently made changes to their positions in the stock. Patriot Financial Partners GP II L.P. bought a new position in NewtekOne during the third quarter valued at approximately $26,423,000. Vanguard Group Inc. grew its position in NewtekOne by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock worth $16,706,000 after purchasing an additional 26,966 shares during the period. Geode Capital Management LLC raised its stake in NewtekOne by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 630,105 shares of the business services provider’s stock valued at $7,109,000 after buying an additional 14,413 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of NewtekOne by 42.9% during the 2nd quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock valued at $7,034,000 after buying an additional 187,103 shares during the period. Finally, North Reef Capital Management LP bought a new position in shares of NewtekOne during the 3rd quarter valued at $4,430,000. 38.35% of the stock is currently owned by institutional investors.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.