Analysts Set NewtekOne, Inc. (NASDAQ:NEWT) Target Price at $15.00

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have been given a consensus recommendation of “Hold” by the five analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.00.

NEWT has been the topic of several analyst reports. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Piper Sandler raised their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised their target price on NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research note on Friday, January 30th.

Insider Activity at NewtekOne

In related news, insider Michael Adam Schwartz purchased 2,247 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was acquired at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the completion of the purchase, the insider owned 49,713 shares in the company, valued at approximately $691,507.83. This represents a 4.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barry Sloane purchased 3,595 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average cost of $13.91 per share, for a total transaction of $50,006.45. Following the completion of the acquisition, the chief executive officer directly owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This represents a 0.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 10,845 shares of company stock worth $145,511 over the last 90 days. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Partners GP II L.P. bought a new position in shares of NewtekOne during the third quarter worth about $26,423,000. Vanguard Group Inc. raised its stake in NewtekOne by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock valued at $16,706,000 after buying an additional 26,966 shares in the last quarter. Geode Capital Management LLC raised its stake in NewtekOne by 2.3% during the second 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 in the last quarter. Marshall Wace LLP lifted its holdings in NewtekOne by 42.9% during the 2nd quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after buying an additional 187,103 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in NewtekOne by 119.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider’s stock worth $6,234,000 after buying an additional 298,830 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

NewtekOne Stock Performance

Shares of NEWT stock opened at $12.28 on Monday. 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 company has a market cap of $354.73 million, a PE ratio of 5.61 and a beta of 1.25. The company’s fifty day simple moving average is $12.96 and its 200-day simple moving average is $11.88. NewtekOne has a 52 week low of $9.12 and a 52 week high of $14.91.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. NewtekOne had a net margin of 15.51% and a return on equity of 19.52%. The firm had revenue of $55.85 million during the quarter, compared to analysts’ expectations of $80.01 million. As a group, equities research analysts anticipate that NewtekOne will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, December 22nd. NewtekOne’s dividend payout ratio (DPR) is 34.70%.

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.