NewtekOne (NASDAQ:NEWT) Stock Rating Raised to Hold at Zacks Research

NewtekOne (NASDAQ:NEWT) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other brokerages have also issued reports on NEWT. Piper Sandler dropped their price target on shares of NewtekOne from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Wall Street Zen downgraded shares of NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. Finally, B. Riley Financial lowered their price objective on NewtekOne from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.33.

NewtekOne Price Performance

Shares of NASDAQ NEWT opened at $10.79 on Tuesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.76 and a quick ratio of 0.65. The stock has a fifty day moving average price of $11.35 and a 200 day moving average price of $12.72. NewtekOne has a 1-year low of $9.59 and a 1-year high of $15.69. The company has a market cap of $311.60 million, a PE ratio of 5.71 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, October 28th. The business services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). The firm had revenue of $71.79 million during the quarter, compared to analysts’ expectations of $77.10 million. NewtekOne had a net margin of 13.58% and a return on equity of 15.58%. Sell-side analysts forecast that NewtekOne will post 1.74 EPS for the current year.

Institutional Investors Weigh In On NewtekOne

Several institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new position in shares of NewtekOne in the 2nd quarter valued at about $46,000. Sequoia Financial Advisors LLC acquired a new stake in shares of NewtekOne in the second quarter valued at about $193,000. Corient Private Wealth LP boosted its holdings in NewtekOne by 17.1% during the second quarter. Corient Private Wealth LP now owns 15,673 shares of the business services provider’s stock worth $233,000 after buying an additional 2,289 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in NewtekOne by 6.8% during the first quarter. Kestra Advisory Services LLC now owns 18,951 shares of the business services provider’s stock worth $208,000 after buying an additional 1,209 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in NewtekOne by 7.7% during the third quarter. Ieq Capital LLC now owns 55,105 shares of the business services provider’s stock worth $613,000 after buying an additional 3,921 shares in the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

NewtekOne Company Profile

NewtekOne, Inc. is a financial holding company that provides banking and business services to small and midsized businesses across the United States. Its offerings include business lending, deposit accounts, payment processing, payroll, insurance and technology services. NewtekOne provides banking services through Newtek Bank, N.A. and lending through Newtek Small Business Finance, including financing for eligible businesses through the Small Business Administration’s lending programs. Its other services are delivered through affiliated companies and are designed to support businesses’ day-to-day operations.