NewtekOne (NASDAQ:NEWT) Receives Market Perform Rating from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has reaffirmed NewtekOne's "market perform" rating, raising its target price from $12.00 to $13.00, suggesting a potential upside of 5.86% from the previous close.
• NewtekOne's stock saw a 2.0% decrease, trading at $12.28, with a market cap of approximately $323.21 million and a P/E ratio of 6.10.
• The company reported earnings per share of $0.52 for the last quarter, exceeding estimates, but revenue fell short of expectations with $70.20 million reported against the forecast of $73.88 million.

Keefe, Bruyette & Woods restated their market perform rating on shares of NewtekOne (NASDAQ:NEWT - Free Report) in a research note released on Friday,Benzinga reports. They currently have a $13.00 price target on the business services provider's stock, up from their previous price target of $12.00.

A number of other brokerages also recently issued reports on NEWT. B. Riley initiated coverage on NewtekOne in a report on Monday, September 15th. They set a "buy" rating and a $18.00 price target on the stock. Piper Sandler upped their price target on NewtekOne from $11.50 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.25.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT traded down $0.09 on Friday, hitting $12.21. The company had a trading volume of 194,401 shares, compared to its average volume of 222,542. NewtekOne has a 1-year low of $9.12 and a 1-year high of $15.49. The stock has a market cap of $321.39 million, a price-to-earnings ratio of 6.07 and a beta of 1.25. The stock has a 50 day moving average price of $11.86 and a 200 day moving average price of $11.34. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 5.95.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $70.20 million during the quarter, compared to analysts' expectations of $73.88 million. NewtekOne had a net margin of 14.65% and a return on equity of 19.16%. NewtekOne has set its FY 2025 guidance at 2.100-2.500 EPS. Analysts expect that NewtekOne will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Wednesday, July 9th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.76 dividend on an annualized basis and a yield of 6.2%. NewtekOne's dividend payout ratio is presently 37.81%.

Hedge Funds Weigh In On NewtekOne

Hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of NewtekOne by 8.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,780 shares of the business services provider's stock valued at $153,000 after purchasing an additional 980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NewtekOne by 8.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider's stock valued at $176,000 after acquiring an additional 1,081 shares during the period. Rhumbline Advisers increased its stake in NewtekOne by 6.1% in the second quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider's stock valued at $411,000 after acquiring an additional 2,108 shares during the period. Man Group plc boosted its position in NewtekOne by 6.1% in the second quarter. Man Group plc now owns 40,138 shares of the business services provider's stock valued at $453,000 after buying an additional 2,304 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of NewtekOne during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 38.35% of the company's stock.

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.