Compass Point Forecasts Strong Price Appreciation for NewtekOne (NASDAQ:NEWT) Stock

NewtekOne (NASDAQ:NEWT) had its target price hoisted by Compass Point from $13.00 to $14.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Separately, B. Riley increased their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.50.

NewtekOne Price Performance

NEWT stock opened at $12.34 on Thursday. The stock has a 50-day moving average price of $12.70 and a two-hundred day moving average price of $12.96. The stock has a market cap of $324.43 million, a PE ratio of 6.89 and a beta of 1.33. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. NewtekOne has a 1 year low of $10.43 and a 1 year high of $15.49.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, February 26th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $75.37 million during the quarter, compared to analysts’ expectations of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. Equities analysts forecast that NewtekOne will post 1.93 EPS for the current fiscal year.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired a total of 5,250 shares of company stock worth $67,608 in the last three months. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Several hedge funds have recently bought and sold shares of the company. Connective Capital Management LLC acquired a new stake in NewtekOne in the 4th quarter valued at about $250,000. Two Sigma Investments LP lifted its stake in NewtekOne by 24.2% in the 4th quarter. Two Sigma Investments LP now owns 90,407 shares of the business services provider’s stock valued at $1,154,000 after purchasing an additional 17,629 shares during the last quarter. Man Group plc lifted its stake in NewtekOne by 13.0% in the 4th quarter. Man Group plc now owns 50,790 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 5,843 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in NewtekOne by 59.3% in the 4th quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider’s stock valued at $871,000 after purchasing an additional 25,399 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NewtekOne by 8.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 1,081 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.