NewtekOne (NASDAQ:NEWT) Given New $14.00 Price Target at Compass Point

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

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

NewtekOne Stock Performance

NASDAQ NEWT opened at $12.50 on Thursday. 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 firm has a market capitalization of $328.64 million, a price-to-earnings ratio of 6.98 and a beta of 1.33. The company’s fifty day moving average is $12.70 and its two-hundred day moving average is $12.95. NewtekOne has a 52-week low of $10.30 and a 52-week high of $15.49.

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

Insider Activity

In other news, CEO Barry Sloane purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $12.95 per share, with a total value of $38,850.00. Following the acquisition, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have acquired 4,750 shares of company stock worth $61,368. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in NewtekOne by 285.2% during the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 22,360 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in NewtekOne by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,120 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 16,596 shares during the last quarter. Bailard Inc. bought a new position in NewtekOne during the 4th quarter valued at about $257,000. Nisa Investment Advisors LLC lifted its holdings in NewtekOne by 137.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of NewtekOne in the third quarter worth about $1,902,000. 38.35% of the stock is owned by 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.