NewtekOne, Inc. (NASDAQ:NEWT) Stock Has Average Target Price of $15.33 According to Analysts

Key Points

• Analysts rate NewtekOne “Hold” overall: Of six analysts, four recommend holding, one recommends buying, and one recommends selling. The average 12-month price target is $15.33, though some firms recently lowered their targets or ratings.
• Quarterly results fell short of expectations: NewtekOne reported EPS of $0.34 versus the $0.45 consensus estimate, and revenue of $71.78 million versus the $77.10 million estimate.
• The company’s quarterly dividend of $0.19 per share equates to $0.76 annually and a reported yield of 6.9%. Shares opened at $11.01, within a 52-week range of $9.59 to $15.69.

Shares of NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) have received a consensus recommendation of "Hold" from the six analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.33.

Several brokerages recently weighed in on NEWT. Piper Sandler dropped their target price on NewtekOne from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, October 29th. Weiss Ratings cut shares of NewtekOne from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, October 26th. B. Riley Financial dropped their target price on shares of NewtekOne from $25.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, August 31st. Wall Street Zen downgraded shares of NewtekOne from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, Zacks Research lowered shares of NewtekOne from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th.

NewtekOne Stock Performance

Shares of NewtekOne stock opened at $11.01 on Thursday. The company has a market capitalization of $318.08 million, a PE ratio of 5.83 and a beta of 1.30. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $12.80. NewtekOne has a one year low of $9.59 and a one year high of $15.69.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The business services provider reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.11). NewtekOne had a net margin of 13.58% and a return on equity of 15.72%. The firm had revenue of $71.78 million during the quarter, compared to the consensus estimate of $77.10 million. Research analysts expect that NewtekOne will post 1.74 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 24th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.9%. NewtekOne's payout ratio is 40.21%.

Hedge Funds Weigh In On NewtekOne

Several hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC raised its stake in NewtekOne by 7.1% in the 2nd quarter. Squarepoint Ops LLC now owns 173,340 shares of the business services provider's stock worth $2,567,000 after acquiring an additional 11,533 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in NewtekOne during the 2nd quarter worth about $2,264,000. Quantinno Capital Management LP grew its stake in NewtekOne by 98.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider's stock valued at $882,000 after purchasing an additional 39,990 shares during the last quarter. Bank of America Corp DE grew its stake in NewtekOne by 26.6% during the 1st quarter. Bank of America Corp DE now owns 65,442 shares of the business services provider's stock valued at $717,000 after purchasing an additional 13,761 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in NewtekOne by 126.0% during the 1st quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider's stock valued at $695,000 after purchasing an additional 35,369 shares during the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Company Profile

NewtekOne, Inc is a financial holding company that provides banking and business services to small and medium-sized businesses throughout the United States. The company operates primarily through Newtek Bank, National Association, a national bank that offers commercial lending, Small Business Administration (SBA) loans, business deposit accounts and treasury management services.

NewtekOne's offerings are designed to address a range of business needs, including working capital, commercial real estate and equipment financing, payment processing, payroll, insurance and technology-related services.

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