NewtekOne, Inc. (NASDAQ:NEWT) Receives $14.50 Average Price Target from Brokerages

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $14.75.

Several analysts have commented on NEWT shares. Keefe, Bruyette & Woods increased their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Finally, Piper Sandler increased their price objective on NewtekOne from $12.50 to $13.00 and gave the company a “neutral” rating in a report on Friday, January 9th.

Insider Activity

In related news, insider Michael Adam Schwartz bought 2,247 shares of the 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 $31,255.77. Following the purchase, the insider directly owned 49,713 shares of the company’s stock, valued at approximately $691,507.83. This trade represents a 4.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Barry Sloane purchased 3,595 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were bought at an average price of $13.91 per share, for a total transaction of $50,006.45. Following the purchase, the chief executive officer directly owned 1,194,180 shares in the company, valued at $16,611,043.80. This represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 10,845 shares of company stock valued at $145,511. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of NewtekOne

A number of hedge funds and other institutional investors have recently made changes to their positions in NEWT. Trust Co. of Vermont acquired a new position in NewtekOne during the second quarter valued at $29,000. Advisory Services Network LLC purchased a new position in shares of NewtekOne during the 3rd quarter valued at about $46,000. IFP Advisors Inc lifted its holdings in shares of NewtekOne by 74.9% in the 2nd quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock valued at $77,000 after buying an additional 2,901 shares during the period. CWM LLC boosted its stake in shares of NewtekOne by 728.7% in the second quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock worth $97,000 after buying an additional 7,571 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in NewtekOne during the second quarter worth about $107,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Stock Up 1.5%

NASDAQ:NEWT opened at $13.74 on Thursday. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67. NewtekOne has a 1-year low of $9.12 and a 1-year high of $14.91. The company has a 50-day moving average of $12.45 and a 200 day moving average of $11.71. The firm has a market cap of $396.95 million, a PE ratio of 6.27 and a beta of 1.25.

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

NewtekOne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd were paid a $0.19 dividend. The ex-dividend date was Monday, December 22nd. This represents a $0.76 dividend on an annualized basis and a yield of 5.5%. 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.