NewtekOne, Inc. (NASDAQ:NEWT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.3333.

A number of brokerages recently weighed in on NEWT. Zacks Research downgraded shares of NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. B. Riley Financial decreased their price objective on shares of NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a report on Monday, August 31st. Wall Street Zen lowered shares of NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings cut shares of NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Finally, Piper Sandler increased their target price on shares of NewtekOne from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, August 7th.

NewtekOne Stock Performance

Shares of NEWT opened at $12.08 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 7.41. The company has a market capitalization of $348.99 million, a price-to-earnings ratio of 5.44 and a beta of 1.27. The stock has a 50 day moving average of $13.49 and a 200 day moving average of $13.09. NewtekOne has a 12 month low of $9.59 and a 12 month high of $15.69.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%.The business had revenue of $90.05 million for the quarter, compared to analysts’ expectations of $75.00 million. As a group, sell-side analysts forecast that NewtekOne will post 1.75 earnings per share for the current year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 24th will be paid a $0.19 dividend. The ex-dividend date is Thursday, September 24th. This represents a $0.76 annualized dividend and a yield of 6.3%. NewtekOne’s dividend payout ratio is presently 34.23%.

Institutional Trading of NewtekOne

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in NewtekOne in the 2nd quarter worth about $2,264,000. Huber Capital Management LLC purchased a new stake in NewtekOne during the fourth quarter valued at about $978,000. Quantinno Capital Management LP lifted its holdings in NewtekOne by 98.6% during the first 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 during the last quarter. Segall Bryant & Hamill LLC boosted its position in NewtekOne by 126.0% during the first quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock worth $695,000 after purchasing an additional 35,369 shares during the period. Finally, GSA Capital Partners LLP bought a new position in NewtekOne during the fourth quarter worth about $1,126,000. 38.35% of the stock is currently owned by institutional investors.

NewtekOne Company Profile

NewtekOne, Inc is a financial holding company that provides banking and business services primarily to small and medium-sized businesses and their owners. The company is the parent of Newtek Bank, N.A., a nationally chartered bank that offers commercial lending, business deposit accounts, treasury management and other financial products.

Newtek Bank’s lending activities include Small Business Administration (SBA) loans, commercial real estate financing and other business loans. Through its banking platform and affiliated operating companies, NewtekOne also provides services such as electronic payment processing, payroll, insurance and technology solutions designed to support the financial and operational needs of business customers.

The company was founded in 1999 and operated for many years as Newtek Business Services Corp., a business development company focused on providing financing and business services to small businesses.