NewtekOne (NASDAQ:NEWT) Price Target Lowered to $21.00 at B. Riley Financial

Key Points

• B. Riley Financial lowered NewtekOne’s price target to $21 from $25 while maintaining a “buy” rating, implying 78.88% upside from the stock’s previous close.
• Analyst sentiment is mixed: NewtekOne has a consensus “hold” rating and an average price target of $16.33, with ratings ranging from buy to strong sell.
• NewtekOne reported quarterly EPS of $0.47, in line with estimates, while revenue of $90.05 million exceeded the $75 million consensus forecast. The stock recently traded at $11.74, and insiders have purchased 17,500 shares over the past 90 days.

NewtekOne (NASDAQ:NEWT - Get Free Report) had its price target cut by analysts at B. Riley Financial from $25.00 to $21.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. B. Riley Financial's price objective would suggest a potential upside of 78.88% from the company's previous close.

Several other equities research analysts have also recently commented on the company. Raymond James Financial raised NewtekOne to a "hold" rating in a report on Wednesday, July 1st. Wall Street Zen lowered NewtekOne from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Piper Sandler upped their target price on NewtekOne from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Weiss Ratings downgraded NewtekOne from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Finally, Zacks Research lowered NewtekOne from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NewtekOne currently has a consensus rating of "Hold" and an average target price of $16.33.

NewtekOne Price Performance

NEWT traded down $0.17 on Monday, reaching $11.74. 121,700 shares of the company's stock were exchanged, compared to its average volume of 238,894. The stock has a market cap of $339.17 million, a PE ratio of 5.29 and a beta of 1.27. NewtekOne has a twelve month low of $9.59 and a twelve month high of $15.69. The stock's fifty day moving average price is $14.05 and its 200-day moving average price is $13.16. The company has a debt-to-equity ratio of 7.41, a current ratio of 0.65 and a quick ratio of 0.65.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47. The company had revenue of $90.05 million during the quarter, compared to the consensus estimate of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. Sell-side analysts expect that NewtekOne will post 2.18 EPS for the current year.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of $14.20 per share, for a total transaction of $71,000.00. Following the completion of the acquisition, the chief executive officer owned 1,181,914 shares of the company's stock, valued at approximately $16,783,178.80. The trade was a 0.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have purchased 17,500 shares of company stock worth $246,965. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEWT. Ancora Advisors LLC purchased a new position in shares of NewtekOne during the 2nd quarter worth $46,000. Advisory Services Network LLC purchased a new stake in NewtekOne in the 3rd quarter valued at about $46,000. California State Teachers Retirement System lifted its position in NewtekOne by 283.0% in the second quarter. California State Teachers Retirement System now owns 5,109 shares of the business services provider's stock valued at $76,000 after buying an additional 3,775 shares during the last quarter. Quantbot Technologies LP acquired a new position in NewtekOne in the second quarter valued at about $107,000. Finally, Dumont & Blake Investment Advisors LLC purchased a new position in NewtekOne during the first quarter worth about $118,000. Hedge funds and other institutional investors own 38.35% of the company's stock.

About NewtekOne

NewtekOne, Inc NASDAQ: NEWT is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company's core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.

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