NewtekOne (NASDAQ:NEWT) Rating Increased to Hold at StockNews.com

NewtekOne (NASDAQ:NEWT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities research analysts also recently weighed in on NEWT. Piper Sandler reduced their price target on shares of NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Keefe, Bruyette & Woods decreased their price target on NewtekOne from $16.00 to $13.00 and set a “market perform” rating for the company in a research note on Wednesday, March 20th. Finally, B. Riley reaffirmed a “buy” rating and set a $18.00 price objective (down from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, NewtekOne presently has a consensus rating of “Hold” and an average price target of $14.50.

NewtekOne Stock Performance

NewtekOne stock opened at $12.59 on Tuesday. NewtekOne has a twelve month low of $10.07 and a twelve month high of $19.36. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. The company has a market capitalization of $322.81 million, a P/E ratio of 7.77 and a beta of 1.23. The stock’s 50 day moving average is $11.23 and its 200 day moving average is $12.50.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $62.99 million. NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, equities research analysts predict that NewtekOne will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of NewtekOne by 1,280.0% in the 4th quarter. International Assets Investment Management LLC now owns 100,740 shares of the business services provider’s stock worth $1,390,000 after purchasing an additional 93,440 shares during the period. SG Americas Securities LLC grew its position in shares of NewtekOne by 30.9% during the 4th quarter. SG Americas Securities LLC now owns 13,058 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 3,082 shares during the period. Kinloch Capital LLC purchased a new stake in shares of NewtekOne in the 3rd quarter worth $196,000. Raymond James & Associates raised its holdings in NewtekOne by 12.5% in the 3rd quarter. Raymond James & Associates now owns 53,465 shares of the business services provider’s stock worth $789,000 after purchasing an additional 5,953 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in NewtekOne by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 72,151 shares of the business services provider’s stock valued at $1,064,000 after purchasing an additional 1,798 shares in the last quarter. Institutional investors own 38.35% of the company’s stock.

About NewtekOne

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.