NewtekOne (NASDAQ:NEWT) Stock Price Passes Above 200 Day Moving Average – Here’s Why

NewtekOne, Inc. (NASDAQ:NEWT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.31 and traded as high as $11.56. NewtekOne shares last traded at $11.6950, with a volume of 131,452 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEWT shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of NewtekOne in a research note on Friday, September 19th. Wall Street Zen lowered shares of NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. B. Riley assumed coverage on shares of NewtekOne in a research note on Monday, September 15th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.25.

NewtekOne Stock Performance

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 5.69. The firm has a market capitalization of $337.87 million, a price-to-earnings ratio of 5.24 and a beta of 1.26. The stock has a fifty day moving average price of $10.84 and a 200-day moving average price of $11.31.

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

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd will be given a $0.19 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.76 dividend on an annualized basis and a yield of 6.5%. NewtekOne’s payout ratio is 34.08%.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane bought 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $10.22 per share, for a total transaction of $102,200.00. Following the completion of the purchase, the chief executive officer owned 1,212,459 shares of the company’s stock, valued at approximately $12,391,330.98. The trade was a 0.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 13,189 shares of company stock worth $137,736 over the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Trading of NewtekOne

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in NewtekOne by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock valued at $411,000 after buying an additional 2,108 shares during the last quarter. Man Group plc boosted its holdings in NewtekOne by 6.1% in the second quarter. Man Group plc now owns 40,138 shares of the business services provider’s stock valued at $453,000 after acquiring an additional 2,304 shares during the last quarter. Trust Co. of Vermont acquired a new stake in NewtekOne in the second quarter worth about $29,000. IFP Advisors Inc raised its holdings in NewtekOne by 74.9% during the 2nd quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock worth $77,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in NewtekOne during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

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.