B. Riley Begins Coverage on NewtekOne (NASDAQ:NEWT)

Key Points

• B. Riley has initiated coverage on NewtekOne (NASDAQ:NEWT), setting a "buy" rating with a price target of $18.00, indicating a potential upside of 56.11% from its previous close.
• NewtekOne reported quarterly earnings of $0.52 per share, exceeding analysts' expectations of $0.50, with a revenue of $70.20 million.
• Institutional investors have been increasing their stakes in NewtekOne, with notable increases from firms like Ameriprise Financial and AQR Capital Management, signifying growing confidence in the company's prospects.

Research analysts at B. Riley began coverage on shares of NewtekOne (NASDAQ:NEWT - Get Free Report) in a research note issued on Monday. The firm set a "buy" rating and a $18.00 price target on the business services provider's stock. B. Riley's price target would indicate a potential upside of 56.11% from the stock's previous close.

NEWT has been the subject of a number of other reports. Keefe, Bruyette & Woods decreased their price objective on NewtekOne from $13.00 to $12.00 and set a "market perform" rating for the company in a report on Friday, July 11th. Piper Sandler increased their price target on NewtekOne from $11.50 to $12.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, NewtekOne presently has a consensus rating of "Hold" and a consensus target price of $14.00.

NewtekOne Stock Performance

Shares of NEWT stock opened at $11.53 on Monday. NewtekOne has a 12-month low of $9.12 and a 12-month high of $15.49. The firm has a market capitalization of $303.47 million, a price-to-earnings ratio of 5.74 and a beta of 1.25. The business has a 50 day simple moving average of $11.82 and a 200 day simple moving average of $11.36. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. NewtekOne had a return on equity of 19.16% and a net margin of 14.65%.The business had revenue of $70.20 million during the quarter, compared to analyst estimates of $73.88 million. NewtekOne has set its FY 2025 guidance at 2.100-2.500 EPS. On average, equities research analysts anticipate that NewtekOne will post 1.93 EPS for the current year.

Institutional Investors Weigh In On NewtekOne

Several large investors have recently modified their holdings of the stock. Man Group plc boosted its stake in shares of NewtekOne by 6.1% during the 2nd quarter. Man Group plc now owns 40,138 shares of the business services provider's stock worth $453,000 after acquiring an additional 2,304 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of NewtekOne by 20.0% during the 2nd quarter. Bank of America Corp DE now owns 135,578 shares of the business services provider's stock worth $1,529,000 after acquiring an additional 22,613 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NewtekOne by 73.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 143,607 shares of the business services provider's stock worth $1,620,000 after acquiring an additional 60,593 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of NewtekOne by 111.5% during the 2nd quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider's stock worth $4,014,000 after acquiring an additional 187,578 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of NewtekOne by 20.2% during the 2nd quarter. Raymond James Financial Inc. now owns 45,620 shares of the business services provider's stock worth $515,000 after acquiring an additional 7,674 shares in the last quarter. 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.

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