Analysts Set NewtekOne, Inc. (NASDAQ:NEWT) Target Price at $16.33

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have earned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.3333.

NEWT has been the topic of several research analyst reports. B. Riley Financial lowered their price objective on shares of NewtekOne from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, August 31st. Weiss Ratings cut NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 18th. Zacks Research downgraded NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen lowered NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Raymond James Financial raised NewtekOne to a “hold” rating in a research note on Wednesday, July 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in NewtekOne in the 2nd quarter worth approximately $2,264,000. Huber Capital Management LLC purchased a new position in shares of NewtekOne during the 4th quarter valued at $978,000. Segall Bryant & Hamill LLC increased its stake in shares of 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 during the last quarter. Quantinno Capital Management LP raised its holdings in shares of NewtekOne by 98.6% during 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. Finally, GSA Capital Partners LLP purchased a new stake in shares of NewtekOne during the fourth quarter worth $1,126,000. 38.35% of the stock is owned by hedge funds and other institutional investors.

NewtekOne Price Performance

NEWT stock opened at $11.68 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 7.41. NewtekOne has a one year low of $9.59 and a one year high of $15.69. The firm has a market capitalization of $337.44 million, a PE ratio of 5.26 and a beta of 1.27. The firm has a 50-day moving average of $13.20 and a two-hundred day moving average of $13.07.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. The business had revenue of $90.05 million for the quarter, compared to the consensus estimate of $75.00 million. On average, analysts forecast that NewtekOne will post 1.75 earnings per share for the current year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, September 24th. NewtekOne’s dividend payout ratio is 34.23%.

NewtekOne Company Profile

NewtekOne, Inc is a financial holding company that provides banking and business services primarily to small and medium-sized businesses and their owners. The company is the parent of Newtek Bank, N.A., a nationally chartered bank that offers commercial lending, business deposit accounts, treasury management and other financial products.

Newtek Bank’s lending activities include Small Business Administration (SBA) loans, commercial real estate financing and other business loans. Through its banking platform and affiliated operating companies, NewtekOne also provides services such as electronic payment processing, payroll, insurance and technology solutions designed to support the financial and operational needs of business customers.

The company was founded in 1999 and operated for many years as Newtek Business Services Corp., a business development company focused on providing financing and business services to small businesses.