NewtekOne (NASDAQ:NEWT) Price Target Cut to $12.00 by Analysts at Keefe, Bruyette & Woods

NewtekOne (NASDAQ:NEWT - Free Report) had its target price trimmed by Keefe, Bruyette & Woods from $13.00 to $12.00 in a research note released on Friday,Benzinga reports. The firm currently has a market perform rating on the business services provider's stock.

Separately, Compass Point increased their price target on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, March 20th.

NewtekOne Price Performance

Shares of NEWT remained flat at $11.59 during mid-day trading on Friday. 281,644 shares of the stock were exchanged, compared to its average volume of 193,718. The firm has a 50-day moving average of $10.96 and a two-hundred day moving average of $11.67. NewtekOne has a 12 month low of $9.12 and a 12 month high of $15.49. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.16. The stock has a market cap of $305.28 million, a price-to-earnings ratio of 6.04 and a beta of 1.21.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $66.33 million for the quarter, compared to the consensus estimate of $63.15 million. NewtekOne had a net margin of 14.34% and a return on equity of 18.81%. On average, equities research analysts expect that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Wednesday, July 9th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.76 annualized dividend and a yield of 6.56%. NewtekOne's dividend payout ratio is presently 39.58%.

Insider Buying and Selling

In related news, CEO Barry Sloane bought 10,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were acquired at an average price of $10.86 per share, for a total transaction of $108,600.00. Following the purchase, the chief executive officer owned 1,200,459 shares in the company, valued at $13,036,984.74. This trade represents a 0.84% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 36,500 shares of company stock worth $406,175. Corporate insiders own 6.50% of the company's stock.

Hedge Funds Weigh In On NewtekOne

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in NewtekOne by 116.6% during the 4th quarter. American Century Companies Inc. now owns 112,400 shares of the business services provider's stock worth $1,435,000 after buying an additional 60,518 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of NewtekOne during the 4th quarter valued at approximately $432,000. Nuveen Asset Management LLC raised its position in shares of NewtekOne by 59.3% during the 4th quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider's stock valued at $871,000 after acquiring an additional 25,399 shares in the last quarter. Geode Capital Management LLC lifted its stake in NewtekOne by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider's stock worth $7,467,000 after purchasing an additional 10,933 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in NewtekOne by 73.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 105,855 shares of the business services provider's stock worth $1,352,000 after purchasing an additional 44,969 shares during the period. 38.35% of the stock is currently owned by institutional investors and hedge funds.

About NewtekOne

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.