NewtekOne (NASDAQ:NEWT) Stock Lifted to “Hold” by Zacks Research

Zacks Research upgraded shares of NewtekOne (NASDAQ:NEWT) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks reports.

A number of other equities research analysts also recently issued reports on the company. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial dropped their price objective on NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Weiss Ratings cut NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, October 26th. Finally, Piper Sandler reduced their target price on NewtekOne from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.33.

NewtekOne Stock Performance

NASDAQ NEWT opened at $10.79 on Tuesday. The company’s 50 day simple moving average is $11.35 and its two-hundred day simple moving average is $12.72. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.76 and a quick ratio of 0.65. NewtekOne has a 1 year low of $9.59 and a 1 year high of $15.69. The stock has a market capitalization of $311.60 million, a PE ratio of 5.71 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, October 28th. The business services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). The firm had revenue of $71.79 million for the quarter, compared to analysts’ expectations of $77.10 million. NewtekOne had a net margin of 13.58% and a return on equity of 15.58%. Analysts predict that NewtekOne will post 1.74 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 24th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Thursday, September 24th. NewtekOne’s dividend payout ratio (DPR) is currently 40.21%.

Hedge Funds Weigh In On NewtekOne

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in shares of NewtekOne during the 2nd quarter valued at $2,264,000. Quantinno Capital Management LP grew its position in NewtekOne by 98.6% in the first quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock worth $882,000 after acquiring an additional 39,990 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in NewtekOne by 126.0% in the first quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock worth $695,000 after acquiring an additional 35,369 shares in the last quarter. Bank of America Corp DE increased its stake in NewtekOne by 26.6% in the first quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 13,761 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in NewtekOne in the second quarter valued at $193,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Company Profile

NewtekOne, Inc. is a financial holding company that provides banking and business services to small and midsized businesses across the United States. Its offerings include business lending, deposit accounts, payment processing, payroll, insurance and technology services. NewtekOne provides banking services through Newtek Bank, N.A. and lending through Newtek Small Business Finance, including financing for eligible businesses through the Small Business Administration’s lending programs. Its other services are delivered through affiliated companies and are designed to support businesses’ day-to-day operations.