B. Riley Downgrades NewtekOne (NASDAQ:NEWT) to Neutral

B. Riley cut shares of NewtekOne (NASDAQ:NEWT) from a buy rating to a neutral rating in a research note published on Wednesday, Marketbeat Ratings reports. They currently have $13.00 price target on the business services provider’s stock, down from their prior price target of $16.00. B. Riley also issued estimates for NewtekOne’s Q3 2024 earnings at $0.37 EPS, FY2024 earnings at $1.78 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $1.92 EPS.

Separately, StockNews.com raised NewtekOne from a sell rating to a hold rating in a research note on Tuesday, May 7th.

NewtekOne Price Performance

Shares of NEWT opened at $11.26 on Wednesday. NewtekOne has a 52-week low of $10.07 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50 day moving average price is $13.01 and its two-hundred day moving average price is $12.32. The firm has a market cap of $278.50 million, a PE ratio of 7.26 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. The firm had revenue of $81.37 million for the quarter, compared to analyst estimates of $59.68 million. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, equities analysts anticipate that NewtekOne will post 1.92 EPS for the current year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.76 annualized dividend and a dividend yield of 6.75%. NewtekOne’s dividend payout ratio is 49.03%.

Insider Activity

In other news, CEO Barry Sloane acquired 6,649 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the completion of the acquisition, the chief executive officer now directly owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Barry Sloane purchased 6,649 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the completion of the acquisition, the chief executive officer now owns 1,147,323 shares of the company’s stock, valued at approximately $13,917,027.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Scott Price purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $12.59 per share, with a total value of $25,180.00. Following the acquisition, the chief financial officer now directly owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The disclosure for this purchase can be found here. Insiders bought a total of 14,649 shares of company stock worth $183,352 over the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewtekOne

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new stake in NewtekOne during the second quarter worth $403,000. Cubist Systematic Strategies LLC bought a new position in NewtekOne in the 2nd quarter valued at $192,000. Marshall Wace LLP grew its stake in NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after purchasing an additional 180,468 shares during the period. Cornercap Investment Counsel Inc. bought a new position in NewtekOne in the 2nd quarter valued at $506,000. Finally, American Century Companies Inc. grew its stake in NewtekOne by 27.2% in 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 during the period. Institutional investors 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.