NewtekOne, Inc. (NASDAQ:NEWT) Stock Rated “Hold” by Sell-Side Brokerages

NewtekOne, Inc. (NASDAQ:NEWT) has been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $15.33.

Several analysts have recently commented on the company. B. Riley Financial decreased their target price on NewtekOne from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, August 31st. Weiss Ratings lowered shares of NewtekOne from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 26th. Zacks Research lowered shares of NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Piper Sandler lowered their price objective on shares of NewtekOne from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. Finally, Wall Street Zen downgraded shares of NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th.

NewtekOne Stock Up 2.6%

Shares of NASDAQ NEWT opened at $10.98 on Thursday. The company has a market capitalization of $317.21 million, a price-to-earnings ratio of 5.83 and a beta of 1.30. The company has a debt-to-equity ratio of 7.41, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50-day moving average of $11.38 and a two-hundred day moving average of $12.75. NewtekOne has a 1 year low of $9.59 and a 1 year high of $15.69.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, October 28th. The business services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.11). The business had revenue of $71.79 million for the quarter, compared to analyst estimates of $77.10 million. NewtekOne had a return on equity of 15.72% and a net margin of 13.58%. On average, analysts forecast that NewtekOne will post 1.74 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 24th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.76 dividend on an annualized basis and a yield of 6.9%. NewtekOne’s payout ratio is presently 40.21%.

Institutional Trading of NewtekOne

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC raised its holdings in NewtekOne by 8.5% in the third quarter. Kestra Advisory Services LLC now owns 20,674 shares of the business services provider’s stock worth $230,000 after buying an additional 1,613 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of NewtekOne during the second quarter valued at approximately $193,000. Squarepoint Ops LLC increased its position in shares of NewtekOne by 7.1% during the second quarter. Squarepoint Ops LLC now owns 173,340 shares of the business services provider’s stock valued at $2,567,000 after acquiring an additional 11,533 shares in the last quarter. Corient Private Wealth LP increased its position in shares of NewtekOne by 17.1% during the second quarter. Corient Private Wealth LP now owns 15,673 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 2,289 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in NewtekOne in the 2nd quarter worth approximately $46,000. 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 medium-sized businesses throughout the United States. The company operates primarily through Newtek Bank, National Association, a national bank that offers commercial lending, Small Business Administration (SBA) loans, business deposit accounts and treasury management services.

NewtekOne’s offerings are designed to address a range of business needs, including working capital, commercial real estate and equipment financing, payment processing, payroll, insurance and technology-related services.