NewtekOne (NASDAQ:NEWT) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded NewtekOne from “Hold” to “Sell,” while broader analyst sentiment remains “Hold” with a consensus price target of $15.33.
• NewtekOne shares opened at $13.02, down 0.4%, with a market capitalization of approximately $376 million; the stock has traded between $9.59 and $15.69 over the past year.
• The company reported quarterly EPS of $0.47, in line with estimates, while revenue of $90.05 million exceeded the $75 million consensus forecast. Insiders and institutional investors own 5.90% and 38.35% of the stock, respectively.

NewtekOne (NASDAQ:NEWT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other brokerages have also recently commented on NEWT. Keefe, Bruyette & Woods raised their target price on NewtekOne from $12.00 to $13.00 and gave the stock a "market perform" rating in a research report on Friday, May 1st. Raymond James Financial raised shares of NewtekOne to a "hold" rating in a report on Wednesday, July 1st. Zacks Research cut shares of NewtekOne from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Piper Sandler raised their price objective on shares of NewtekOne from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of NewtekOne from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.33.

NewtekOne Trading Down 0.4%

NewtekOne stock opened at $13.02 on Friday. The business has a 50 day moving average price of $14.30 and a two-hundred day moving average price of $13.25. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 7.41. The stock has a market cap of $376.15 million, a price-to-earnings ratio of 5.86 and a beta of 1.27. NewtekOne has a 12 month low of $9.59 and a 12 month high of $15.69.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. The company had revenue of $90.05 million during the quarter, compared to the consensus estimate of $75.00 million. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%. As a group, equities analysts forecast that NewtekOne will post 2.18 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Barry Sloane acquired 5,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was purchased at an average cost of $14.20 per share, for a total transaction of $71,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,181,914 shares of the company's stock, valued at $16,783,178.80. The trade was a 0.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 18,237 shares of company stock valued at $256,959 in the last quarter. Corporate insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On NewtekOne

Several institutional investors and hedge funds have recently made changes to their positions in NEWT. Patriot Financial Partners GP II L.P. acquired a new stake in shares of NewtekOne during the 3rd quarter worth about $26,423,000. Vanguard Group Inc. boosted its position in NewtekOne by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider's stock valued at $16,706,000 after buying an additional 26,966 shares in the last quarter. Marshall Wace LLP boosted its position in NewtekOne by 42.9% in the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider's stock valued at $7,034,000 after buying an additional 187,103 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in NewtekOne by 119.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider's stock worth $6,234,000 after buying an additional 298,830 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in NewtekOne by 1,987.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 357,106 shares of the business services provider's stock worth $4,054,000 after buying an additional 340,000 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company's stock.

About NewtekOne

NewtekOne, Inc NASDAQ: NEWT is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company's core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.

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