NewtekOne, Inc. (NASDAQ:NEWT) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst sentiment is neutral: Six brokerages give NewtekOne an average “Hold” rating, with one sell, four hold, and one buy recommendation. The average 12-month price target is $16.33, compared with the stock’s reported opening price of $12.08.
• Quarterly results met expectations and exceeded revenue forecasts: NewtekOne reported earnings of $0.47 per share, in line with estimates, while revenue reached $90.05 million versus the $75 million consensus forecast.
• NewtekOne announced a 6.3% dividend yield: The company declared a quarterly dividend of $0.19 per share, or $0.76 annualized, with payment scheduled for October 1 to shareholders of record as of September 24.

Shares of NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) have received an average recommendation of "Hold" from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.3333.

NEWT has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of NewtekOne from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Wall Street Zen lowered shares of NewtekOne from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Zacks Research cut shares of NewtekOne from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Raymond James Financial upgraded NewtekOne to a "hold" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings lowered NewtekOne from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC purchased a new position in NewtekOne during the 2nd quarter worth $46,000. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of NewtekOne in the first quarter valued at about $118,000. Sequoia Financial Advisors LLC bought a new position in shares of NewtekOne during the second quarter valued at about $193,000. Kestra Advisory Services LLC lifted its position in shares of NewtekOne by 6.8% during the first quarter. Kestra Advisory Services LLC now owns 18,951 shares of the business services provider's stock valued at $208,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Corient Private Wealth LP boosted its holdings in NewtekOne by 17.1% during the second quarter. Corient Private Wealth LP now owns 15,673 shares of the business services provider's stock worth $233,000 after purchasing an additional 2,289 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $12.08 on Wednesday. NewtekOne has a twelve month low of $9.59 and a twelve month high of $15.69. The stock's 50 day moving average is $13.49 and its 200-day moving average is $13.09. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 7.41. The firm has a market capitalization of $348.99 million, a price-to-earnings ratio of 5.44 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. The business had revenue of $90.05 million during the quarter, compared to analyst estimates of $75.00 million. Sell-side analysts forecast that NewtekOne will post 1.75 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 24th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $0.76 annualized dividend and a dividend yield of 6.3%. NewtekOne's payout ratio is presently 34.23%.

NewtekOne Company Profile

NewtekOne, Inc is a financial holding company that provides banking and business services primarily to small and medium-sized businesses and their owners. The company is the parent of Newtek Bank, N.A., a nationally chartered bank that offers commercial lending, business deposit accounts, treasury management and other financial products.

Newtek Bank's lending activities include Small Business Administration (SBA) loans, commercial real estate financing and other business loans. Through its banking platform and affiliated operating companies, NewtekOne also provides services such as electronic payment processing, payroll, insurance and technology solutions designed to support the financial and operational needs of business customers.

The company was founded in 1999 and operated for many years as Newtek Business Services Corp., a business development company focused on providing financing and business services to small businesses.

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