B. Riley Brokers Raise Earnings Estimates for NewtekOne, Inc. (NASDAQ:NEWT)

NewtekOne, Inc. (NASDAQ:NEWT - Free Report) - Investment analysts at B. Riley raised their FY2024 earnings per share estimates for NewtekOne in a report issued on Wednesday, May 8th. B. Riley analyst B. Rowe now anticipates that the business services provider will post earnings of $1.83 per share for the year, up from their prior estimate of $1.81. B. Riley currently has a "Buy" rating and a $18.00 price target on the stock. The consensus estimate for NewtekOne's current full-year earnings is $1.83 per share.

Several other analysts also recently issued reports on NEWT. Piper Sandler reduced their price target on NewtekOne from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, March 18th. StockNews.com upgraded shares of NewtekOne from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of NewtekOne from $16.00 to $13.00 and set a "market perform" rating for the company in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NewtekOne currently has a consensus rating of "Hold" and an average target price of $14.50.

NewtekOne Stock Performance

NEWT stock traded down $0.28 during mid-day trading on Friday, hitting $12.78. 95,937 shares of the company were exchanged, compared to its average volume of 142,170. NewtekOne has a 1-year low of $10.07 and a 1-year high of $19.36. The business has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $12.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.83. The stock has a market capitalization of $327.68 million, a PE ratio of 7.89 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The business had revenue of $75.60 million during the quarter, compared to analyst estimates of $62.99 million. During the same period in the previous year, the business earned $0.06 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEWT. Cape Investment Advisory Inc. bought a new position in NewtekOne in the fourth quarter valued at approximately $89,000. SeaBridge Investment Advisors LLC bought a new position in NewtekOne in the fourth quarter valued at approximately $138,000. SG Americas Securities LLC bought a new position in NewtekOne in the third quarter valued at approximately $147,000. Jump Financial LLC bought a new position in NewtekOne in the fourth quarter valued at approximately $155,000. Finally, BNP Paribas Financial Markets increased its stake in NewtekOne by 124.5% in the first quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider's stock valued at $158,000 after acquiring an additional 7,961 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company's stock.

NewtekOne Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.19 per share. This is a positive change from NewtekOne's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend was Thursday, March 28th. NewtekOne's dividend payout ratio is 46.91%.

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.