Brokerages Set NewtekOne, Inc. (NASDAQ:NEWT) Target Price at $15.67

NewtekOne, Inc. (NASDAQ:NEWT – Get Rating) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $15.50.

Several equities analysts recently issued reports on NEWT shares. Piper Sandler cut their price target on shares of NewtekOne from $14.00 to $13.00 in a report on Wednesday, May 10th. StockNews.com raised shares of NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday. B. Riley began coverage on shares of NewtekOne in a research note on Thursday. They issued a “buy” rating and a $15.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of NewtekOne from $19.00 to $12.00 and set a “market perform” rating for the company in a research note on Thursday, March 16th.

Insider Activity

In related news, CEO Barry Sloane purchased 5,000 shares of NewtekOne stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $11.28 per share, for a total transaction of $56,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,123,048 shares of the company’s stock, valued at $12,667,981.44. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other NewtekOne news, insider Nicolas Young acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, March 21st. The shares were acquired at an average price of $12.45 per share, with a total value of $37,350.00. Following the completion of the transaction, the insider now directly owns 31,539 shares in the company, valued at approximately $392,660.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barry Sloane acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $56,400.00. Following the transaction, the chief executive officer now owns 1,123,048 shares of the company’s stock, valued at $12,667,981.44. The disclosure for this purchase can be found here. Insiders purchased 31,800 shares of company stock worth $411,013 over the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of NewtekOne

A number of institutional investors have recently made changes to their positions in NEWT. Raymond James & Associates lifted its position in shares of NewtekOne by 5.0% in the first quarter. Raymond James & Associates now owns 55,788 shares of the business services provider’s stock worth $1,490,000 after purchasing an additional 2,679 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in NewtekOne by 38.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,392 shares of the business services provider’s stock worth $758,000 after acquiring an additional 7,919 shares in the last quarter. MetLife Investment Management LLC raised its position in NewtekOne by 137.0% during the first quarter. MetLife Investment Management LLC now owns 7,109 shares of the business services provider’s stock worth $190,000 after acquiring an additional 4,109 shares in the last quarter. Mackenzie Financial Corp raised its position in NewtekOne by 8.2% during the first quarter. Mackenzie Financial Corp now owns 48,481 shares of the business services provider’s stock worth $1,294,000 after acquiring an additional 3,677 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in NewtekOne during the first quarter worth $137,000. Institutional investors own 14.91% of the company’s stock.

NewtekOne Price Performance

NASDAQ:NEWT opened at $11.59 on Thursday. NewtekOne has a 52 week low of $10.75 and a 52 week high of $25.55. The company has a market capitalization of $285.23 million, a price-to-earnings ratio of 8.34 and a beta of 1.28. The company has a 50-day moving average of $12.07 and a 200-day moving average of $15.57. The company has a debt-to-equity ratio of 4.77, a quick ratio of 1.65 and a current ratio of 2.21.

NewtekOne (NASDAQ:NEWT – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.54). NewtekOne had a net margin of 26.96% and a return on equity of 13.60%. The firm had revenue of $23.09 million for the quarter, compared to the consensus estimate of $26.21 million. As a group, equities research analysts anticipate that NewtekOne will post 1.63 earnings per share for the current fiscal year.

NewtekOne Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Tuesday, April 4th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Monday, April 3rd. NewtekOne’s dividend payout ratio is 51.80%.

NewtekOne Company Profile

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NewtekOne, Inc is a non-diversified closed-end management investment company engaged in the provision of business and financial solutions. It offers loans, payments, payroll and benefits, web solutions, insurance, and technology solutions. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.