Compass Point Forecasts Strong Price Appreciation for NewtekOne (NASDAQ:NEWT) Stock

NewtekOne (NASDAQ:NEWT) had its price target lifted by Compass Point from $13.00 to $14.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Separately, B. Riley boosted their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, NewtekOne has an average rating of “Hold” and a consensus price target of $14.50.

NewtekOne Stock Down 0.1 %

Shares of NASDAQ:NEWT opened at $12.50 on Thursday. NewtekOne has a one year low of $10.30 and a one year high of $15.49. The company has a 50 day moving average of $12.70 and a 200-day moving average of $12.95. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $328.64 million, a price-to-earnings ratio of 6.98 and a beta of 1.33.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The company had revenue of $75.37 million during the quarter, compared to analysts’ expectations of $69.55 million. On average, sell-side analysts forecast that NewtekOne will post 1.93 earnings per share for the current year.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane purchased 3,000 shares of NewtekOne stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. This represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders bought 4,750 shares of company stock worth $61,368. 6.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Connective Capital Management LLC acquired a new position in shares of NewtekOne in the fourth quarter valued at approximately $250,000. Two Sigma Investments LP boosted its holdings in shares of NewtekOne by 24.2% in the fourth quarter. Two Sigma Investments LP now owns 90,407 shares of the business services provider’s stock valued at $1,154,000 after buying an additional 17,629 shares during the period. Man Group plc boosted its holdings in shares of NewtekOne by 13.0% in the fourth quarter. Man Group plc now owns 50,790 shares of the business services provider’s stock valued at $649,000 after buying an additional 5,843 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of NewtekOne by 59.3% in the fourth quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider’s stock valued at $871,000 after buying an additional 25,399 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NewtekOne by 8.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider’s stock worth $176,000 after purchasing an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

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.