NewtekOne (NASDAQ:NEWT) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

NewtekOne, Inc. (NASDAQ:NEWT)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.80 and traded as high as $13.00. NewtekOne shares last traded at $12.72, with a volume of 318,635 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NEWT shares. Piper Sandler increased their target price on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.00.

NewtekOne Stock Up 2.5%

The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $376.73 million, a price-to-earnings ratio of 5.95 and a beta of 1.25. The firm’s 50-day moving average price is $12.85 and its 200-day moving average price is $11.81.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. NewtekOne had a return on equity of 19.52% and a net margin of 15.51%.The firm had revenue of $55.85 million during the quarter, compared to the consensus estimate of $80.01 million. Sell-side analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 22nd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, December 22nd. NewtekOne’s dividend payout ratio (DPR) is presently 34.70%.

Insider Buying and Selling

In other news, insider Michael Adam Schwartz bought 2,247 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was acquired at an average cost of $13.91 per share, for a total transaction of $31,255.77. Following the completion of the purchase, the insider owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barry Sloane purchased 3,595 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were purchased at an average cost of $13.91 per share, with a total value of $50,006.45. Following the completion of the acquisition, the chief executive officer owned 1,194,180 shares in the company, valued at approximately $16,611,043.80. This represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 10,845 shares of company stock valued at $145,511. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewtekOne

A number of institutional investors have recently added to or reduced their stakes in NEWT. Advisory Services Network LLC purchased a new position in NewtekOne in the third quarter valued at about $46,000. IFP Advisors Inc boosted its stake in shares of NewtekOne by 74.9% during the 2nd quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock valued at $77,000 after buying an additional 2,901 shares during the last quarter. CWM LLC grew its position in shares of NewtekOne by 728.7% during the second quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock worth $97,000 after buying an additional 7,571 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of NewtekOne in the second quarter worth $107,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in NewtekOne in the third quarter valued at $150,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

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.