NewtekOne (NASDAQ:NEWT) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of NewtekOne (NASDAQ:NEWT) from a sell rating to a hold rating in a report issued on Saturday morning.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods raised their price target on NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. Finally, Piper Sandler raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $11.78 on Friday. The firm has a market capitalization of $339.62 million, a price-to-earnings ratio of 5.38 and a beta of 1.25. The company has a debt-to-equity ratio of 6.41, a current ratio of 0.71 and a quick ratio of 0.67. The business’s 50 day simple moving average is $13.10 and its 200-day simple moving average is $11.88. NewtekOne has a 12 month low of $9.12 and a 12 month high of $14.91.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, meeting the consensus estimate of $0.65. The firm had revenue of $120.83 million during the quarter, compared to the consensus estimate of $80.01 million. NewtekOne had a return on equity of 18.83% and a net margin of 15.51%. As a group, equities analysts forecast that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.76 annualized dividend and a yield of 6.5%. NewtekOne’s dividend payout ratio (DPR) is presently 34.70%.

Insiders Place Their Bets

In related news, insider Michael Adam Schwartz acquired 2,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average price of $13.91 per share, with a total value of $31,255.77. Following the completion of the purchase, the insider directly owned 49,713 shares in the company, valued at approximately $691,507.83. The trade was a 4.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barry Sloane acquired 3,595 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average price of $13.91 per share, with a total value of $50,006.45. Following the transaction, the chief executive officer owned 1,194,180 shares in the company, valued at $16,611,043.80. This represents a 0.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 9,156 shares of company stock valued at $126,435. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Patriot Financial Partners GP II L.P. purchased a new stake in shares of NewtekOne during the third quarter worth about $26,423,000. Vanguard Group Inc. lifted its stake in shares of NewtekOne by 1.9% during the third quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock valued at $16,706,000 after buying an additional 26,966 shares during the period. Geode Capital Management LLC lifted its stake in shares of NewtekOne by 2.3% during the second quarter. Geode Capital Management LLC now owns 630,105 shares of the business services provider’s stock valued at $7,109,000 after buying an additional 14,413 shares during the period. Marshall Wace LLP boosted its position in NewtekOne by 42.9% during the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after acquiring an additional 187,103 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in NewtekOne by 119.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider’s stock worth $6,234,000 after acquiring an additional 298,830 shares during the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

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.