NewtekOne (NASDAQ:NEWT) Shares Pass Above 200-Day Moving Average – What’s Next?

NewtekOne, Inc. (NASDAQ:NEWT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.88 and traded as high as $12.42. NewtekOne shares last traded at $12.30, with a volume of 131,250 shares trading hands.

Analysts Set New Price Targets

NEWT has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price target on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Wall Street Zen cut shares of NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Piper Sandler upped their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, NewtekOne presently has an average rating of “Hold” and an average target price of $15.00.

NewtekOne Trading Up 2.4%

The firm has a market cap of $366.90 million, a PE ratio of 5.80 and a beta of 1.25. The company has a 50-day simple moving average of $13.02 and a 200 day simple moving average of $11.89. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 5.69.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $80.01 million. As a group, sell-side analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 22nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Monday, December 22nd. NewtekOne’s dividend payout ratio is presently 34.70%.

Insider Transactions at NewtekOne

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

Institutional Investors Weigh In On NewtekOne

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in NewtekOne in the 3rd quarter worth $46,000. Quantbot Technologies LP purchased a new stake in shares of NewtekOne during the second quarter worth about $107,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of NewtekOne during the third quarter worth about $150,000. Cerity Partners LLC raised its position in shares of NewtekOne by 18.0% during the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after purchasing an additional 2,095 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in NewtekOne in the 3rd quarter valued at about $191,000. 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.