Weiss Ratings Reiterates "Hold (C)" Rating for NewtekOne (NASDAQ:NEWT)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for NewtekOne (NASDAQ: NEWT), indicating a cautious outlook on the stock's performance.
• Piper Sandler raised its target price for NewtekOne shares from $11.50 to $12.00, while B. Riley initiated coverage with a "buy" rating and a $18.00 target price.
• NewtekOne reported earnings per share of $0.52 for the last quarter, surpassing expectations, but its revenue fell short at $70.20 million compared to the forecast of $73.88 million.

NewtekOne (NASDAQ:NEWT - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently commented on NEWT. Piper Sandler upped their target price on shares of NewtekOne from $11.50 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $13.00 target price (up previously from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Finally, B. Riley initiated coverage on shares of NewtekOne in a research report on Monday, September 15th. They issued a "buy" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.25.

NewtekOne Trading Up 0.4%

Shares of NEWT stock opened at $11.21 on Wednesday. The company's 50-day moving average price is $11.86 and its 200-day moving average price is $11.29. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 5.95. The stock has a market cap of $295.05 million, a price-to-earnings ratio of 5.58 and a beta of 1.26. NewtekOne has a twelve month low of $9.12 and a twelve month high of $15.49.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The firm had revenue of $70.20 million for 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. As a group, equities analysts predict that NewtekOne will post 1.93 earnings per share for the current year.

Institutional Investors Weigh In On NewtekOne

Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of NewtekOne by 8.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,780 shares of the business services provider's stock worth $153,000 after purchasing an additional 980 shares during the period. Rhumbline Advisers lifted its holdings in shares of NewtekOne by 6.1% during the second quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider's stock worth $411,000 after purchasing an additional 2,108 shares during the period. Man Group plc lifted its holdings in shares of NewtekOne by 6.1% during the second quarter. Man Group plc now owns 40,138 shares of the business services provider's stock worth $453,000 after purchasing an additional 2,304 shares during the period. Trust Co. of Vermont acquired a new stake in shares of NewtekOne during the second quarter worth $29,000. Finally, IFP Advisors Inc lifted its holdings in shares of NewtekOne by 74.9% during the second quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider's stock worth $77,000 after purchasing an additional 2,901 shares during the period. 38.35% of the stock is 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.

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