NewtekOne (NASDAQ:NEWT) Rating Increased to Hold at StockNews.com

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

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

NewtekOne Stock Performance

Shares of NEWT stock opened at $12.33 on Tuesday. The company has a market capitalization of $316.14 million, a P/E ratio of 7.61 and a beta of 1.23. NewtekOne has a fifty-two week low of $10.07 and a fifty-two week high of $19.36. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $11.21 and a two-hundred day moving average price of $12.50.

NewtekOne (NASDAQ:NEWT) last posted 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 for the quarter, compared to the consensus estimate of $62.99 million. NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. During the same quarter in the prior year, the company earned $0.06 earnings per share. Analysts expect that NewtekOne will post 1.83 earnings per share for the current 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 given a $0.19 dividend. This is a boost from NewtekOne’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Thursday, March 28th. NewtekOne’s payout ratio is currently 46.91%.

Institutional Investors Weigh In On NewtekOne

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors boosted its position in NewtekOne by 2.9% in the first quarter. Arkadios Wealth Advisors now owns 47,279 shares of the business services provider’s stock worth $520,000 after purchasing an additional 1,344 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $1,064,000 after buying an additional 1,798 shares during the last quarter. SG Americas Securities LLC grew its position in NewtekOne by 30.9% during the fourth quarter. SG Americas Securities LLC now owns 13,058 shares of the business services provider’s stock valued at $180,000 after buying an additional 3,082 shares during the period. Raymond James & Associates increased its holdings in NewtekOne by 12.5% during the third quarter. Raymond James & Associates now owns 53,465 shares of the business services provider’s stock valued at $789,000 after buying an additional 5,953 shares during the last quarter. Finally, Cape Investment Advisory Inc. purchased a new position in shares of NewtekOne during the 4th quarter worth $89,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

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.