NewtekOne, Inc. (NASDAQ:NEWT) Receives $16.33 Consensus Target Price from Analysts

Shares of NewtekOne, Inc. (NASDAQ:NEWT) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $16.3333.

A number of research firms have recently commented on NEWT. Raymond James Financial raised NewtekOne to a “hold” rating in a report on Wednesday, July 1st. Weiss Ratings lowered NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Wall Street Zen cut NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. B. Riley Financial cut their target price on NewtekOne from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Finally, Zacks Research lowered NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th.

Institutional Trading of NewtekOne

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of NewtekOne in the second quarter worth approximately $2,264,000. GSA Capital Partners LLP bought a new stake in NewtekOne during the fourth quarter valued at approximately $1,126,000. Huber Capital Management LLC bought a new stake in NewtekOne during the fourth quarter valued at approximately $978,000. Quantinno Capital Management LP grew its stake in NewtekOne by 98.6% in the 1st quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock worth $882,000 after buying an additional 39,990 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in NewtekOne by 126.0% in the 1st quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider’s stock worth $695,000 after buying an additional 35,369 shares in the last quarter. Institutional investors own 38.35% of the company’s stock.

NewtekOne Price Performance

NEWT opened at $11.56 on Wednesday. The firm has a 50-day moving average price of $13.33 and a 200-day moving average price of $13.08. NewtekOne has a twelve month low of $9.59 and a twelve month high of $15.69. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 7.41. The company has a market capitalization of $333.91 million, a price-to-earnings ratio of 5.21 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. The company had revenue of $90.05 million for the quarter, compared to analysts’ expectations of $75.00 million. Equities analysts expect that NewtekOne will post 1.75 EPS for the current year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 24th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $0.76 annualized dividend and a yield of 6.6%. NewtekOne’s payout ratio is currently 34.23%.

About NewtekOne

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.