NewtekOne (NASDAQ:NEWT) Price Target Raised to $15.00

NewtekOne (NASDAQ:NEWT) had its price target increased by Piper Sandler from $13.00 to $15.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

NEWT has been the topic of several other research reports. B. Riley cut shares of NewtekOne from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $15.00 price objective (up previously from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $14.48 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. The stock has a market cap of $375.90 million, a PE ratio of 8.09 and a beta of 1.29. The company’s fifty day moving average is $12.68 and its 200 day moving average is $12.84. NewtekOne has a 52 week low of $10.07 and a 52 week high of $15.49.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. NewtekOne had a return on equity of 19.17% and a net margin of 14.92%. The firm had revenue of $83.12 million for the quarter, compared to the consensus estimate of $61.76 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. Research analysts anticipate that NewtekOne will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.25%. The ex-dividend date was Thursday, October 10th. NewtekOne’s dividend payout ratio (DPR) is currently 42.46%.

Insiders Place Their Bets

In related news, CEO Barry Sloane purchased 40,134 shares of NewtekOne stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $11.75 per share, for a total transaction of $471,574.50. Following the completion of the transaction, the chief executive officer now directly owns 1,187,457 shares of the company’s stock, valued at $13,952,619.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders purchased 41,634 shares of company stock worth $488,820. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of NewtekOne by 253.5% during the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,835 shares in the last quarter. International Assets Investment Management LLC purchased a new position in NewtekOne during the second quarter valued at $62,000. nVerses Capital LLC boosted its holdings in shares of NewtekOne by 96.7% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after buying an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of NewtekOne by 36.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after buying an additional 2,002 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of NewtekOne in the 3rd quarter worth about $101,000. Hedge funds and other institutional investors 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.