NewtekOne (NASDAQ:NEWT) Cut to “Sell” at StockNews.com

StockNews.com cut shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a report released on Friday.

Several other research analysts have also weighed in on the company. Piper Sandler reduced their target price on NewtekOne from $13.00 to $11.00 and set a neutral rating on the stock in a report on Monday, March 18th. Keefe, Bruyette & Woods reduced their target price on NewtekOne from $16.00 to $13.00 and set a market perform rating on the stock in a report on Wednesday, March 20th. Finally, B. Riley reiterated a buy rating and set a $18.00 target price (down from $19.00) on shares of NewtekOne in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $14.50.

NewtekOne Stock Up 1.1 %

Shares of NewtekOne stock opened at $11.00 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. NewtekOne has a 12 month low of $10.07 and a 12 month high of $19.36. The business has a fifty day simple moving average of $11.22 and a 200 day simple moving average of $12.62. The stock has a market cap of $282.04 million, a PE ratio of 6.79 and a beta of 1.25.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. The company had revenue of $75.60 million for the quarter, compared to analyst estimates of $62.99 million. During the same period last year, the firm earned $0.06 earnings per share. Research analysts predict that NewtekOne will post 1.83 EPS for the current year.

NewtekOne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.91%. This is a positive change from NewtekOne’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 28th. NewtekOne’s payout ratio is 46.91%.

Institutional Trading of NewtekOne

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of NewtekOne by 1,280.0% in the fourth quarter. International Assets Investment Management LLC now owns 100,740 shares of the business services provider’s stock valued at $1,390,000 after purchasing an additional 93,440 shares in the last quarter. Kinloch Capital LLC acquired a new stake in shares of NewtekOne in the third quarter valued at about $196,000. SG Americas Securities LLC increased its position in shares of NewtekOne by 30.9% in the fourth quarter. SG Americas Securities LLC now owns 13,058 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 3,082 shares during the last quarter. Raymond James & Associates increased its position in shares of NewtekOne by 12.5% in the third quarter. Raymond James & Associates now owns 53,465 shares of the business services provider’s stock valued at $789,000 after acquiring an additional 5,953 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of NewtekOne by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 72,151 shares of the business services provider’s stock valued at $1,064,000 after acquiring an additional 1,798 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors.

About NewtekOne

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.