Shares of NewtekOne, Inc. (NASDAQ:NEWT – Get Free Report) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $15.3333.
A number of research analysts have weighed in on the company. Piper Sandler raised their price objective on NewtekOne from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Zacks Research lowered shares of NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Raymond James Financial upgraded shares of NewtekOne to a “hold” rating in a research report on Wednesday, July 1st. Weiss Ratings cut shares of NewtekOne from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st.
Read Our Latest Analysis on NewtekOne
NewtekOne Price Performance
NewtekOne (NASDAQ:NEWT – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $90.05 million for the quarter, compared to analyst estimates of $75.00 million. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%. As a group, analysts predict that NewtekOne will post 2.18 EPS for the current fiscal year.
NewtekOne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 24th were issued a $0.19 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a yield of 6.1%. NewtekOne’s dividend payout ratio is presently 34.23%.
Insiders Place Their Bets
In other NewtekOne news, CEO Barry Sloane bought 11,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were acquired at an average cost of $14.21 per share, with a total value of $156,310.00. Following the purchase, the chief executive officer directly owned 1,176,914 shares of the company’s stock, valued at $16,723,947.94. This trade represents a 0.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 18,237 shares of company stock valued at $256,959. Company insiders own 5.90% of the company’s stock.
Hedge Funds Weigh In On NewtekOne
A number of institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC purchased a new position in NewtekOne during the second quarter worth approximately $46,000. Advisory Services Network LLC purchased a new stake in NewtekOne in the 3rd quarter valued at $46,000. Quantbot Technologies LP acquired a new stake in shares of NewtekOne in the 2nd quarter worth $107,000. Dumont & Blake Investment Advisors LLC acquired a new stake in shares of NewtekOne in the 1st quarter worth $118,000. Finally, Cerity Partners LLC raised its holdings in shares of 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 during the period. Hedge funds and other institutional investors 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 mediumāsized 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.
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