Keefe, Bruyette & Woods Reaffirms Market Perform Rating for NewtekOne (NASDAQ:NEWT)

NewtekOne (NASDAQ:NEWT)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They currently have a $15.00 target price on the business services provider’s stock, up from their previous target price of $13.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 8.70% from the company’s previous close.

Separately, B. Riley lowered NewtekOne from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a research report on Wednesday, September 4th.

NewtekOne Trading Down 3.0 %

Shares of NewtekOne stock traded down $0.43 on Friday, hitting $13.80. The stock had a trading volume of 50,527 shares, compared to its average volume of 157,990. The stock has a 50 day moving average of $12.53 and a 200 day moving average of $12.73. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.42 and a current ratio of 1.42. NewtekOne has a twelve month low of $10.07 and a twelve month high of $15.25. The firm has a market capitalization of $358.30 million, a P/E ratio of 8.03 and a beta of 1.29.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $81.37 million during the quarter, compared to analysts’ expectations of $59.68 million. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. During the same period in the prior year, the company posted $0.26 EPS. Sell-side analysts expect that NewtekOne will post 1.9 earnings per share for the current fiscal year.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane bought 40,134 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average cost of $11.75 per share, with a total value of $471,574.50. Following the completion of the purchase, the chief executive officer now directly owns 1,187,457 shares in the company, valued at $13,952,619.75. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 48,283 shares of company stock valued at $569,472. 6.50% of the stock is currently owned by insiders.

Institutional Trading of NewtekOne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in NewtekOne by 1,146.0% during the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock worth $761,000 after buying an additional 56,154 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of NewtekOne by 43.5% during the 1st quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider’s stock worth $1,440,000 after acquiring an additional 39,659 shares during the period. Vanguard Group Inc. raised its stake in NewtekOne by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock valued at $15,055,000 after acquiring an additional 17,505 shares during the period. BNP Paribas Financial Markets lifted its holdings in NewtekOne by 124.5% during the first 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 during the last quarter. Finally, Marshall Wace LLP boosted its position in NewtekOne by 200.3% during the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after purchasing an additional 180,468 shares during the period. 38.35% of the stock is owned by institutional investors.

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.