NewtekOne (NASDAQ:NEWT) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other equities analysts have also commented on the company. Keefe, Bruyette & Woods dropped their price target on NewtekOne from $16.00 to $13.00 and set a market perform rating for the company in a research note on Wednesday, March 20th. Piper Sandler dropped their price target on NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a research note on Monday, March 18th. Finally, B. Riley reissued a buy rating and set a $18.00 price target (down from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $14.50.

NewtekOne Stock Performance

NASDAQ:NEWT opened at $11.16 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.83. NewtekOne has a 12-month low of $10.07 and a 12-month high of $19.36. The stock has a 50-day moving average price of $11.21 and a 200 day moving average price of $12.60. The stock has a market capitalization of $286.14 million, a P/E ratio of 6.89 and a beta of 1.25.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. The business had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $62.99 million. During the same quarter in the prior year, the business posted $0.06 EPS. Equities research analysts forecast that NewtekOne will post 1.83 EPS for the current fiscal year.

NewtekOne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.81%. This is a positive change from NewtekOne’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 28th. NewtekOne’s dividend payout ratio (DPR) is presently 46.91%.

Institutional Investors Weigh In On NewtekOne

Several institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in shares of NewtekOne by 1,280.0% in the 4th quarter. International Assets Investment Management LLC now owns 100,740 shares of the business services provider’s stock valued at $1,390,000 after purchasing an additional 93,440 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of NewtekOne by 10.4% in the third quarter. Ancora Advisors LLC now owns 82,806 shares of the business services provider’s stock worth $1,221,000 after buying an additional 7,811 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NewtekOne by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 72,151 shares of the business services provider’s stock worth $1,064,000 after buying an additional 1,798 shares during the period. Raymond James & Associates raised its holdings in shares of NewtekOne by 12.5% in the third quarter. Raymond James & Associates now owns 53,465 shares of the business services provider’s stock worth $789,000 after buying an additional 5,953 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in shares of NewtekOne by 15.4% in the first quarter. Ridgewood Investments LLC now owns 52,485 shares of the business services provider’s stock worth $577,000 after buying an additional 7,000 shares during the period. 38.35% of the stock is owned by institutional investors.

NewtekOne Company Profile

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.