NewtekOne (NASDAQ:NEWT) Upgraded by Raymond James Financial to Hold Rating

NewtekOne (NASDAQ:NEWT) was upgraded by investment analysts at Raymond James Financial to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of NewtekOne from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Weiss Ratings lowered shares of NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

NewtekOne Trading Down 3.3%

Shares of NEWT opened at $14.57 on Wednesday. NewtekOne has a 52-week low of $9.59 and a 52-week high of $15.34. The stock has a market cap of $420.94 million, a PE ratio of 6.42 and a beta of 1.27. The firm’s fifty day moving average is $13.57 and its two-hundred day moving average is $12.85. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 6.76.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Thursday, April 30th. The business services provider reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $88.18 million during the quarter, compared to analysts’ expectations of $75.77 million. NewtekOne had a net margin of 16.15% and a return on equity of 19.00%. NewtekOne has set its FY 2027 guidance at 2.400-2.800 EPS. Research analysts forecast that NewtekOne will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Barry Sloane purchased 5,000 shares of NewtekOne stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $14.20 per share, with a total value of $71,000.00. Following the purchase, the chief executive officer owned 1,181,914 shares of the company’s stock, valued at approximately $16,783,178.80. The trade was a 0.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 20,567 shares of company stock valued at $288,496. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewtekOne

A number of hedge funds have recently made changes to their positions in NEWT. Patriot Financial Partners GP II L.P. purchased a new stake in NewtekOne in the third quarter valued at approximately $26,423,000. Vanguard Group Inc. grew its stake in shares of NewtekOne by 1.9% in 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. Marshall Wace LLP grew its stake in shares of NewtekOne by 42.9% in the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock valued at $7,034,000 after buying an additional 187,103 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of NewtekOne by 119.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider’s stock valued at $6,234,000 after buying an additional 298,830 shares during the period. Finally, North Reef Capital Management LP purchased a new stake in shares of NewtekOne in the 3rd quarter valued at $4,430,000. Hedge funds and other institutional investors 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.