NewtekOne (NASDAQ:NEWT) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a research note published on Saturday morning.

NEWT has been the topic of a number of other reports. Piper Sandler boosted their target price on shares of NewtekOne from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Keefe, Bruyette & Woods boosted their price objective on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Zacks Research downgraded NewtekOne from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings upgraded NewtekOne from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Finally, Raymond James Financial upgraded NewtekOne to a “hold” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.33.

NewtekOne Stock Down 0.4%

Shares of NEWT opened at $13.02 on Friday. The company has a debt-to-equity ratio of 7.41, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a market capitalization of $376.15 million, a price-to-earnings ratio of 5.86 and a beta of 1.27. NewtekOne has a 1 year low of $9.59 and a 1 year high of $15.69. The business’s 50 day simple moving average is $14.30 and its 200-day simple moving average is $13.25.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share 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 firm had revenue of $90.05 million during the quarter, compared to analyst estimates of $75.00 million. As a group, equities analysts expect that NewtekOne will post 2.18 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 24th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Wednesday, June 24th. NewtekOne’s dividend payout ratio is 34.23%.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane acquired 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $14.20 per share, with a total value of $71,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,181,914 shares in the company, valued at approximately $16,783,178.80. This trade represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 18,237 shares of company stock valued at $256,959 over the last ninety days. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewtekOne

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in NewtekOne by 33.4% in the 1st quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 5,916 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of NewtekOne by 306.4% during the first quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider’s stock valued at $2,012,000 after purchasing an additional 126,865 shares during the period. Jane Street Group LLC grew its holdings in shares of NewtekOne by 24.7% in the first quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider’s stock worth $439,000 after purchasing an additional 7,274 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of NewtekOne by 6.1% in the second quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock worth $411,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in NewtekOne in the 2nd quarter worth about $107,000. Hedge funds and other institutional investors 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.