NewtekOne (NASDAQ:NEWT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NewtekOne (NASDAQ:NEWT) from a sell rating to a hold rating in a research report released on Saturday.

Several other research firms also recently commented on NEWT. Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 target price (up previously from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Finally, B. Riley started coverage on shares of NewtekOne in a research note on Monday, September 15th. They issued a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.25.

NewtekOne Stock Performance

NASDAQ NEWT opened at $11.45 on Friday. The stock has a market cap of $330.79 million, a P/E ratio of 5.13 and a beta of 1.26. The company’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $11.33. NewtekOne has a twelve month low of $9.12 and a twelve month high of $13.74. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $74.94 million during the quarter, compared to analyst estimates of $78.31 million. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. As a group, research analysts forecast that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Monday, December 22nd. NewtekOne’s dividend payout ratio is presently 34.08%.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $10.22 per share, with a total value of $102,200.00. Following the completion of the acquisition, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at $12,391,330.98. This represents a 0.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 13,189 shares of company stock valued at $137,736 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEWT. Nuveen LLC acquired a new position in shares of NewtekOne during the first quarter worth approximately $758,000. Russell Investments Group Ltd. raised its position in NewtekOne by 14.3% in the 1st quarter. Russell Investments Group Ltd. now owns 48,432 shares of the business services provider’s stock worth $579,000 after purchasing an additional 6,053 shares during the last quarter. AlphaQuest LLC lifted its holdings in NewtekOne by 49.4% during the 1st quarter. AlphaQuest LLC now owns 20,117 shares of the business services provider’s stock worth $241,000 after buying an additional 6,652 shares in the last quarter. Jump Financial LLC lifted its holdings in NewtekOne by 217.1% during the 1st quarter. Jump Financial LLC now owns 33,114 shares of the business services provider’s stock worth $396,000 after buying an additional 22,672 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in NewtekOne by 27.5% in the 1st quarter. Trexquant Investment LP now owns 94,219 shares of the business services provider’s stock valued at $1,127,000 after buying an additional 20,350 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Company Profile

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.