B. Riley Forecasts Strong Price Appreciation for NewtekOne (NASDAQ:NEWT) Stock

NewtekOne (NASDAQ:NEWT) had its price target hoisted by investment analysts at B. Riley from $13.00 to $14.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. B. Riley’s target price indicates a potential upside of 10.06% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Piper Sandler upped their price target on NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th.

NewtekOne Stock Performance

Shares of NewtekOne stock traded up $0.07 on Thursday, hitting $12.72. The stock had a trading volume of 69,002 shares, compared to its average volume of 156,227. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a market cap of $334.66 million, a price-to-earnings ratio of 7.11 and a beta of 1.30. The business’s 50 day moving average is $13.83 and its two-hundred day moving average is $13.09. NewtekOne has a twelve month low of $10.07 and a twelve month high of $15.49.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same quarter in the prior year, the business posted $0.38 earnings per share. Analysts forecast that NewtekOne will post 1.93 EPS for the current year.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane bought 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was bought at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the acquisition, the chief executive officer now owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. This trade represents a 0.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders bought 44,634 shares of company stock worth $535,640. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NewtekOne

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings 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 buying an additional 1,835 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after acquiring an additional 2,002 shares during the period. nVerses Capital LLC increased its position 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 purchasing an additional 2,900 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in NewtekOne by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock valued at $173,000 after buying an additional 3,094 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of NewtekOne by 12.0% during the 2nd quarter. Rhumbline Advisers now owns 33,665 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 3,617 shares during the period. 38.35% of the stock is owned by institutional investors.

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.