NewtekOne, Inc. (NASDAQ:NEWT) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• NewtekOne has a consensus “Hold” rating from six analysts: four holds, one buy, and one sell. The average 12-month price target is $16.33, above the recent $10.89 share price.
• The company reported quarterly EPS of $0.47, matching estimates, while revenue of $90.05 million exceeded the $75 million consensus forecast. Analysts expect full-year EPS of approximately $1.75.
• NewtekOne recently paid a quarterly dividend of $0.19 per share, equivalent to a 7.0% annualized yield, while institutional investors own 38.35% of the stock.

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) has been assigned a consensus rating of "Hold" from the six research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.33.

A number of equities analysts have issued reports on NEWT shares. Piper Sandler raised their target price on shares of NewtekOne from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. B. Riley Financial lowered their target price on NewtekOne from $25.00 to $21.00 and set a "buy" rating for the company in a report on Monday, August 31st. Weiss Ratings cut NewtekOne from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Zacks Research downgraded NewtekOne from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded NewtekOne from a "hold" rating to a "sell" rating in a report on Saturday, August 15th.

Institutional Investors Weigh In On NewtekOne

A number of hedge funds have recently added to or reduced their stakes in NEWT. Sequoia Financial Advisors LLC acquired a new position in shares of NewtekOne during the second quarter valued at $193,000. Squarepoint Ops LLC increased its holdings in shares of 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 period. Corient Private Wealth LP lifted its position in NewtekOne by 17.1% in the 2nd quarter. Corient Private Wealth LP now owns 15,673 shares of the business services provider's stock valued at $233,000 after purchasing an additional 2,289 shares during the last quarter. Ancora Advisors LLC bought a new stake in NewtekOne in the 2nd quarter valued at about $46,000. Finally, Bank of New York Mellon Corp bought a new stake in NewtekOne in the 2nd quarter valued at about $2,264,000. 38.35% of the stock is currently owned by institutional investors.

NewtekOne Trading Down 1.4%

NewtekOne stock opened at $10.89 on Friday. The firm's 50-day moving average is $12.25 and its 200-day moving average is $12.99. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.65 and a current ratio of 0.65. NewtekOne has a 1 year low of $9.59 and a 1 year high of $15.69. The company has a market cap of $314.61 million, a P/E ratio of 4.91 and a beta of 1.30.

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

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 24th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Thursday, September 24th. NewtekOne's dividend payout ratio is presently 34.23%.

About NewtekOne

NewtekOne, Inc is a financial holding company that provides banking and business services to small and medium-sized businesses throughout the United States. Through its banking operations and specialized subsidiaries, the company offers commercial lending, deposit products, payment processing, payroll services, insurance solutions, and technology services.

The company's lending activities include Small Business Administration (SBA) loans and other financing products designed to support business expansion, working capital needs, equipment purchases, and acquisitions.

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