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

NewtekOne (NASDAQ:NEWT) had its price objective lifted by B. Riley from $13.00 to $14.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

NEWT has been the subject of a number of other research reports. Piper Sandler lifted their target price on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th.

NewtekOne Stock Performance

Shares of NEWT opened at $12.70 on Thursday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. NewtekOne has a 1 year low of $10.07 and a 1 year high of $15.49. The firm has a fifty day moving average of $13.83 and a 200-day moving average of $13.08. The company has a market cap of $334.07 million, a price-to-earnings ratio of 7.10 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The business 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 firm posted $0.38 earnings per share. As a group, equities analysts anticipate that NewtekOne will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

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

Insider Activity

In related news, CEO Barry Sloane acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $14.75 per share, with a total value of $44,250.00. Following the acquisition, the chief executive officer now owns 1,161,855 shares in the company, valued at $17,137,361.25. This represents a 0.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 44,134 shares of company stock worth $529,775 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

A number of large investors have recently made changes to their positions in NEWT. FMR LLC grew its position in NewtekOne by 253.5% during the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after buying an additional 1,835 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NewtekOne during the 2nd quarter worth $62,000. nVerses Capital LLC increased its position in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after purchasing an additional 2,900 shares during the period. Harbor Capital Advisors Inc. raised its stake in NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 2,002 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in NewtekOne during the third quarter worth about $101,000. 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.