NewtekOne, Inc. (NASDAQ:NEWT) Receives $14.25 Consensus Price Target from Analysts

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.25.

Several brokerages have issued reports on NEWT. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Wall Street Zen raised shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $13.00 target price (up from $12.00) on shares of NewtekOne in a research note on Friday, September 19th. Finally, B. Riley assumed coverage on shares of NewtekOne in a research report on Monday, September 15th. They set a “buy” rating and a $18.00 target price on the stock.

NewtekOne Stock Up 0.7%

Shares of NASDAQ:NEWT opened at $11.96 on Friday. The company’s fifty day moving average is $10.95 and its 200-day moving average is $11.37. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.67 and a current ratio of 0.67. NewtekOne has a 52 week low of $9.12 and a 52 week high of $13.74. The company has a market capitalization of $345.52 million, a PE ratio of 5.36 and a beta of 1.23.

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

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date was Monday, December 22nd. NewtekOne’s dividend payout ratio (DPR) is presently 34.08%.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $10.22 per share, with a total value of $102,200.00. Following the completion of the purchase, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at $12,391,330.98. The trade was a 0.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders acquired 13,189 shares of company stock valued at $137,736. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of NewtekOne

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEWT. Patriot Financial Partners GP II L.P. bought a new stake in shares of NewtekOne during the third quarter worth approximately $26,423,000. North Reef Capital Management LP bought a new stake in shares of NewtekOne during the 3rd quarter valued at $4,430,000. AQR Capital Management LLC raised its position in shares of NewtekOne by 111.5% during the 2nd quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider’s stock valued at $4,014,000 after acquiring an additional 187,578 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of NewtekOne by 42.9% in the 2nd quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock valued at $7,034,000 after purchasing an additional 187,103 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of NewtekOne by 190.5% in the 2nd quarter. Prudential Financial Inc. now owns 212,228 shares of the business services provider’s stock worth $2,394,000 after purchasing an additional 139,177 shares during the last quarter. 38.35% of the stock is owned by institutional investors.

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.