FY2024 Earnings Forecast for NewtekOne, Inc. Issued By B. Riley (NASDAQ:NEWT)

NewtekOne, Inc. (NASDAQ:NEWT) – Equities research analysts at B. Riley increased their FY2024 earnings per share (EPS) estimates for shares of NewtekOne in a research note issued on Wednesday, May 8th. B. Riley analyst B. Rowe now anticipates that the business services provider will post earnings per share of $1.83 for the year, up from their previous estimate of $1.81. B. Riley currently has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for NewtekOne’s current full-year earnings is $1.83 per share.

NewtekOne (NASDAQ:NEWT) last announced its 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). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The company had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $62.99 million. During the same quarter last year, the business posted $0.06 earnings per share.

A number of other analysts also recently weighed in on NEWT. Keefe, Bruyette & Woods decreased their price target on NewtekOne from $16.00 to $13.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 20th. Piper Sandler dropped their target price on shares of NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Finally, StockNews.com raised shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.

NewtekOne Stock Up 3.7 %

NewtekOne stock opened at $13.06 on Friday. The company has a debt-to-equity ratio of 4.83, a current ratio of 1.10 and a quick ratio of 1.10. NewtekOne has a 1-year low of $10.07 and a 1-year high of $19.36. The company has a market cap of $334.86 million, a PE ratio of 8.06 and a beta of 1.23. The stock’s 50 day moving average price is $11.26 and its 200 day moving average price is $12.50.

NewtekOne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. NewtekOne’s dividend payout ratio is 46.91%.

Institutional Trading of NewtekOne

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of NewtekOne during the third quarter valued at approximately $147,000. Raymond James & Associates raised its stake in NewtekOne by 12.5% during the third 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. Raymond James Financial Services Advisors Inc. purchased a new position in shares of NewtekOne in the 3rd quarter valued at $272,000. Bank of New York Mellon Corp raised its stake in shares of NewtekOne by 2.6% in the 3rd 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 acquiring an additional 1,798 shares during the period. Finally, Ancora Advisors LLC raised its stake in shares of NewtekOne by 10.4% in the 3rd quarter. Ancora Advisors LLC now owns 82,806 shares of the business services provider’s stock valued at $1,221,000 after acquiring an additional 7,811 shares during the period. Hedge funds and other 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.