NewtekOne (NASDAQ:NEWT) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a report released on Saturday morning.

Several other equities analysts also recently weighed in on NEWT. Weiss Ratings raised NewtekOne from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods boosted their target price on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Piper Sandler upped their target price on NewtekOne from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Zacks Research cut NewtekOne from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Finally, Raymond James Financial raised NewtekOne to a “hold” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.33.

NewtekOne Trading Down 1.5%

Shares of NEWT opened at $12.83 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 7.41. The firm’s 50-day moving average is $14.29 and its two-hundred day moving average is $13.24. NewtekOne has a twelve month low of $9.59 and a twelve month high of $15.69. The firm has a market capitalization of $370.66 million, a P/E ratio of 5.78 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $90.05 million during the quarter, compared to analysts’ expectations of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. On average, research analysts predict that NewtekOne will post 2.18 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 24th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Wednesday, June 24th. NewtekOne’s dividend payout ratio (DPR) is 34.23%.

Insider Activity

In related news, CEO Barry Sloane bought 11,000 shares of NewtekOne stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $14.21 per share, with a total value of $156,310.00. Following the purchase, the chief executive officer owned 1,176,914 shares in the company, valued at $16,723,947.94. This represents a 0.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders purchased 18,237 shares of company stock worth $256,959. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC acquired a new position in shares of NewtekOne in the second quarter worth $46,000. Advisory Services Network LLC acquired a new stake in shares of NewtekOne during the third quarter valued at $46,000. Quantbot Technologies LP acquired a new stake in shares of NewtekOne during the second quarter valued at $107,000. Dumont & Blake Investment Advisors LLC purchased a new stake in NewtekOne during the 1st quarter worth about $118,000. Finally, Cerity Partners LLC increased its position in NewtekOne by 18.0% during the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after purchasing an additional 2,095 shares in the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Company Profile

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.