NewtekOne (NASDAQ:NEWT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of NewtekOne (NASDAQ:NEWT) from a sell rating to a hold rating in a report issued on Tuesday morning.

Several other brokerages also recently issued reports on NEWT. B. Riley reiterated a buy rating and issued a $18.00 price objective (down previously from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. Piper Sandler cut their price target on NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a report on Monday, March 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of NewtekOne from $16.00 to $13.00 and set a market perform rating on the stock in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, NewtekOne currently has an average rating of Hold and a consensus price target of $14.50.

NewtekOne Stock Up 11.3 %

Shares of NASDAQ:NEWT opened at $12.33 on Tuesday. The company’s fifty day moving average is $11.21 and its 200-day moving average is $12.50. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.10 and a current ratio of 1.10. NewtekOne has a 52 week low of $10.07 and a 52 week high of $19.36. The company has a market capitalization of $316.14 million, a PE ratio of 7.61 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results 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). The firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $62.99 million. NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. During the same quarter last year, the firm earned $0.06 earnings per share. Equities research analysts predict that NewtekOne will post 1.83 earnings per share for the current fiscal year.

NewtekOne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.16%. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. NewtekOne’s dividend payout ratio is 46.91%.

Institutional Investors Weigh In On NewtekOne

Institutional investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new position in NewtekOne during the fourth quarter worth about $89,000. SeaBridge Investment Advisors LLC acquired a new position in NewtekOne during the fourth quarter valued at approximately $138,000. SG Americas Securities LLC bought a new stake in NewtekOne in the third quarter valued at approximately $147,000. Jump Financial LLC acquired a new stake in NewtekOne in the fourth quarter worth $155,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of NewtekOne by 124.5% during the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 7,961 shares in the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

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.