NewtekOne (NASDAQ:NEWT) Price Target Raised to $15.00

NewtekOne (NASDAQ:NEWT) had its price target boosted by Piper Sandler from $13.00 to $15.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other research firms also recently weighed in on NEWT. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 target price (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. B. Riley cut shares of NewtekOne from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $13.00 in a report on Wednesday, September 4th.

NewtekOne Stock Down 4.5 %

NEWT opened at $14.48 on Monday. The company’s 50-day moving average price is $12.68 and its two-hundred day moving average price is $12.84. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a twelve month low of $10.07 and a twelve month high of $15.49. The stock has a market cap of $375.90 million, a price-to-earnings ratio of 8.09 and a beta of 1.29.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. NewtekOne had a return on equity of 19.17% and a net margin of 14.92%. During the same period last year, the business posted $0.38 earnings per share. As a group, equities analysts expect that NewtekOne will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Thursday, October 10th were given a $0.19 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.25%. NewtekOne’s dividend payout ratio (DPR) is currently 42.46%.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane purchased 40,134 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was purchased at an average cost of $11.75 per share, with a total value of $471,574.50. Following the acquisition, the chief executive officer now directly owns 1,187,457 shares in the company, valued at approximately $13,952,619.75. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 41,634 shares of company stock valued at $488,820. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 1,835 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of NewtekOne during the 2nd quarter worth $62,000. nVerses Capital LLC grew its position in NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after acquiring an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 2,002 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in NewtekOne during the third quarter valued at about $101,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

NewtekOne Company Profile

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.