NewtekOne (NASDAQ:NEWT) Shares Cross Above 200 Day Moving Average – Time to Sell?

NewtekOne, Inc. (NASDAQ:NEWT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.28 and traded as high as $15.45. NewtekOne shares last traded at $15.40, with a volume of 259,706 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NEWT shares. Raymond James Financial raised NewtekOne to a “hold” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded NewtekOne from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of NewtekOne from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, NewtekOne presently has an average rating of “Moderate Buy” and an average price target of $15.00.

NewtekOne Stock Down 1.2%

The firm has a market capitalization of $431.92 million, a price-to-earnings ratio of 6.59 and a beta of 1.27. The firm has a fifty day moving average price of $14.34 and a 200 day moving average price of $13.28. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 6.76.

NewtekOne (NASDAQ:NEWT) last released its quarterly 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. The firm had revenue of $90.05 million during the quarter, compared to analysts’ expectations of $75.00 million. NewtekOne had a return on equity of 19.00% and a net margin of 16.15%. Sell-side analysts anticipate that NewtekOne, Inc. will post 2.36 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 24th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, June 24th. This represents a $0.76 annualized dividend and a yield of 5.1%. NewtekOne’s dividend payout ratio is 33.48%.

Insider Buying and Selling

In related news, CEO Barry Sloane bought 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the purchase, the chief executive officer owned 1,181,914 shares in the company, valued at approximately $16,783,178.80. The trade was a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 19,567 shares of company stock worth $275,026. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of NewtekOne

A number of hedge funds and other institutional investors have recently modified their holdings of NEWT. Bank of New York Mellon Corp acquired a new position in NewtekOne during the 2nd quarter worth $2,264,000. Segall Bryant & Hamill LLC raised its position in shares of NewtekOne by 126.0% during 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. Bank of America Corp DE lifted its stake in shares of NewtekOne by 26.6% during the first quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 13,761 shares during the period. Quantinno Capital Management LP boosted its holdings in NewtekOne by 98.6% in the first quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider’s stock valued at $882,000 after acquiring an additional 39,990 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in NewtekOne by 6.8% in the first quarter. Kestra Advisory Services LLC now owns 18,951 shares of the business services provider’s stock worth $208,000 after purchasing an additional 1,209 shares during the period. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Company Profile

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.