NewtekOne (NASDAQ:NEWT) Price Target Raised to $14.00 at B. Riley

NewtekOne (NASDAQ:NEWT) had its price target boosted by B. Riley from $13.00 to $14.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other brokerages also recently weighed in on NEWT. Piper Sandler raised their target price on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th.

NewtekOne Trading Up 0.5 %

Shares of NASDAQ NEWT traded up $0.06 during midday trading on Thursday, hitting $12.67. The company’s stock had a trading volume of 33,181 shares, compared to its average volume of 156,314. The business’s 50 day moving average is $13.84 and its two-hundred day moving average is $13.09. NewtekOne has a 12-month low of $10.07 and a 12-month high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The firm has a market cap of $333.35 million, a P/E ratio of 7.08 and a beta of 1.30.

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

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Tuesday, December 31st. NewtekOne’s payout ratio is 42.46%.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane purchased 40,134 shares of the company’s 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 owns 1,187,457 shares in the company, valued at $13,952,619.75. This represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought a total of 44,134 shares of company stock worth $529,775 over the last quarter. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors have recently modified their holdings of the business. Barclays PLC raised its stake in shares of NewtekOne by 285.2% during the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock worth $376,000 after buying an additional 22,360 shares during the period. Geode Capital Management LLC increased its stake in shares of NewtekOne by 4.0% during the third quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider’s stock worth $7,149,000 after purchasing an additional 22,167 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of NewtekOne during the 3rd quarter worth about $367,000. Wellington Management Group LLP purchased a new position in NewtekOne in the 3rd quarter valued at about $1,902,000. Finally, State Street Corp raised its holdings in shares of NewtekOne by 1.0% during the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after acquiring an additional 4,595 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

NewtekOne Company Profile

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.