NewtekOne (NASDAQ:NEWT) Stock Rating Upgraded by StockNews.com

NewtekOne (NASDAQ:NEWT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut their price objective on NewtekOne from $16.00 to $13.00 and set a “market perform” rating for the company in a research report on Wednesday, March 20th. B. Riley reissued a “buy” rating and issued a $18.00 price target (down previously from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. Finally, Piper Sandler reduced their price objective on shares of NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, NewtekOne has an average rating of “Hold” and an average price target of $14.50.

NewtekOne Stock Performance

NEWT stock traded up $1.25 during midday trading on Tuesday, hitting $12.33. 386,307 shares of the stock traded hands, compared to its average volume of 141,265. NewtekOne has a 1-year low of $10.07 and a 1-year high of $19.36. The company has a debt-to-equity ratio of 4.83, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day simple moving average is $11.21 and its 200-day simple moving average is $12.50. The firm has a market cap of $316.14 million, a P/E ratio of 7.61 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, March 6th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The business had revenue of $75.60 million for the quarter, compared to analyst estimates of $62.99 million. During the same quarter last year, the business earned $0.06 earnings per share. On average, analysts expect that NewtekOne will post 1.83 earnings per share for the current year.

Institutional Trading of NewtekOne

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in NewtekOne by 124.5% during the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 7,961 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of NewtekOne by 2.9% during the 1st quarter. Arkadios Wealth Advisors now owns 47,279 shares of the business services provider’s stock worth $520,000 after purchasing an additional 1,344 shares during the last quarter. Ridgewood Investments LLC grew its position in shares of NewtekOne by 15.4% in the first quarter. Ridgewood Investments LLC now owns 52,485 shares of the business services provider’s stock valued at $577,000 after purchasing an additional 7,000 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of NewtekOne in the fourth quarter valued at approximately $89,000. Finally, Jump Financial LLC purchased a new position in NewtekOne during the fourth quarter worth approximately $155,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.