NewtekOne (NASDAQ:NEWT) Price Target Cut to $13.00 by Analysts at Keefe, Bruyette & Woods

NewtekOne (NASDAQ:NEWT) had its price target lowered by Keefe, Bruyette & Woods from $15.00 to $13.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the business services provider’s stock.

Separately, Compass Point raised their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th.

NewtekOne Stock Performance

Shares of NEWT stock opened at $10.38 on Thursday. The company has a market cap of $272.90 million, a P/E ratio of 5.80 and a beta of 1.26. The firm has a fifty day moving average price of $11.11 and a 200 day moving average price of $12.55. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. NewtekOne has a 12 month low of $9.12 and a 12 month high of $15.49.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $66.33 million during the quarter, compared to analysts’ expectations of $63.15 million. Sell-side analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.32%. NewtekOne’s dividend payout ratio (DPR) is presently 39.58%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of NewtekOne by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock valued at $7,467,000 after acquiring an additional 10,933 shares during the period. Royce & Associates LP raised its position in NewtekOne by 16.2% in the 1st quarter. Royce & Associates LP now owns 520,035 shares of the business services provider’s stock valued at $6,220,000 after purchasing an additional 72,574 shares during the last quarter. Bank of New York Mellon Corp grew its position in NewtekOne by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after purchasing an additional 113,261 shares during the last quarter. Wellington Management Group LLP increased its stake in NewtekOne by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider’s stock valued at $3,239,000 after purchasing an additional 100,989 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of NewtekOne by 9.6% in the fourth quarter. Northern Trust Corp now owns 210,102 shares of the business services provider’s stock valued at $2,683,000 after buying an additional 18,407 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

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.