Raymond James Financial Upgrades NewtekOne (NASDAQ:NEWT) to “Hold”

NewtekOne (NASDAQ:NEWT) was upgraded by analysts at Raymond James Financial to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Wall Street Zen upgraded shares of NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Keefe, Bruyette & Woods raised their price objective on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, NewtekOne currently has a consensus rating of “Hold” and a consensus price target of $15.00.

NewtekOne Stock Performance

NASDAQ:NEWT opened at $14.57 on Wednesday. NewtekOne has a fifty-two week low of $9.59 and a fifty-two week high of $15.34. The company has a debt-to-equity ratio of 6.76, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50 day moving average price of $13.57 and a 200 day moving average price of $12.85. The stock has a market capitalization of $420.94 million, a P/E ratio of 6.42 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $88.18 million during the quarter, compared to analysts’ expectations of $75.77 million. NewtekOne had a net margin of 16.15% and a return on equity of 19.00%. NewtekOne has set its FY 2027 guidance at 2.400-2.800 EPS. Equities research analysts forecast that NewtekOne will post 2.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Barry Sloane purchased 5,000 shares of the business’s stock in a transaction dated 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 purchase, the chief executive officer directly owned 1,181,914 shares of the company’s stock, valued at $16,783,178.80. This represents a 0.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 20,567 shares of company stock valued at $288,496 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewtekOne

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in NewtekOne during the third quarter worth about $46,000. Quantbot Technologies LP purchased a new stake in NewtekOne during the 2nd quarter worth $107,000. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of NewtekOne during the 1st quarter valued at about $118,000. Cerity Partners LLC lifted its position in NewtekOne by 18.0% during the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after acquiring an additional 2,095 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in NewtekOne during the 3rd quarter worth approximately $191,000. 38.35% of the stock is owned by institutional investors and hedge funds.

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.