NewtekOne (NASDAQ:NEWT) Price Target Raised to $14.00

NewtekOne (NASDAQ:NEWT) had its target price boosted by B. Riley from $13.00 to $14.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler increased their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

NewtekOne Price Performance

NEWT stock opened at $12.70 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The firm has a market cap of $334.07 million, a price-to-earnings ratio of 7.10 and a beta of 1.30. The company’s fifty day simple moving average is $13.83 and its 200 day simple moving average is $13.08. NewtekOne has a 12-month low of $10.07 and a 12-month high of $15.49.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same period last year, the company earned $0.38 earnings per share. On average, analysts expect that NewtekOne will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Tuesday, December 31st. NewtekOne’s payout ratio is 42.46%.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane bought 3,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were bought at an average price of $14.75 per share, for a total transaction of $44,250.00. Following the purchase, the chief executive officer now owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. The trade was a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 44,134 shares of company stock worth $529,775. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of NewtekOne by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider’s stock valued at $7,149,000 after purchasing an additional 22,167 shares during the last quarter. State Street Corp lifted its holdings in NewtekOne by 1.0% during the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after buying an additional 4,595 shares in the last quarter. Marshall Wace LLP increased its position in shares of NewtekOne by 200.3% during the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after acquiring an additional 180,468 shares during the period. American Century Companies Inc. raised its position in NewtekOne by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock valued at $2,397,000 after purchasing an additional 40,738 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of NewtekOne by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,053 shares of the business services provider’s stock worth $2,314,000 after purchasing an additional 6,640 shares during the period. 38.35% of the stock is owned by hedge funds and other institutional investors.

About NewtekOne

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.