Piper Sandler Increases NewtekOne (NASDAQ:NEWT) Price Target to $15.00

NewtekOne (NASDAQ:NEWT) had its target price raised by Piper Sandler from $13.00 to $15.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on the company. B. Riley downgraded NewtekOne from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $13.00 in a research report on Wednesday, September 4th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

NewtekOne Price Performance

Shares of NewtekOne stock opened at $14.17 on Monday. The business’s 50-day moving average price is $12.73 and its 200-day moving average price is $12.85. The firm has a market capitalization of $372.74 million, a PE ratio of 7.92 and a beta of 1.29. 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 1.42 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $83.12 million for the quarter, compared to analyst estimates of $61.76 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. During the same period in the previous year, the company posted $0.38 earnings per share. Sell-side analysts forecast that NewtekOne will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne’s dividend payout ratio (DPR) is currently 42.46%.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane acquired 40,134 shares of the stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $11.75 per share, with a total value 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 41,634 shares of company stock valued at $488,820 over the last 90 days. 6.50% of the stock is owned by insiders.

Institutional Trading of NewtekOne

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in NewtekOne by 1,146.0% in the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock valued at $761,000 after buying an additional 56,154 shares during the last quarter. Ancora Advisors LLC increased its holdings in NewtekOne by 43.5% in the first quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider’s stock valued at $1,440,000 after buying an additional 39,659 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of NewtekOne by 1.3% during 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 boosted its stake 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 worth $158,000 after acquiring an additional 7,961 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after purchasing an additional 180,468 shares in the last quarter. 38.35% of the stock is owned by hedge funds and other 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.