NewtekOne (NASDAQ:NEWT) Raised to “Hold” at StockNews.com

NewtekOne (NASDAQ:NEWT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods decreased their target price on NewtekOne from $16.00 to $13.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 20th. B. Riley reiterated a “buy” rating and set a $18.00 target price (down from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. Finally, Piper Sandler cut their target price on shares of NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.50.

NewtekOne Price Performance

NEWT stock traded up $1.25 during midday trading on Tuesday, hitting $12.33. The company’s stock had a trading volume of 386,307 shares, compared to its average volume of 141,265. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. NewtekOne has a 12 month low of $10.07 and a 12 month high of $19.36. The company has a 50 day moving average of $11.21 and a two-hundred day moving average of $12.50. The firm has a market capitalization of $316.14 million, a price-to-earnings ratio of 7.61 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $62.99 million. NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. During the same quarter in the prior year, the company posted $0.06 EPS. On average, analysts expect that NewtekOne will post 1.83 EPS for the current year.

Hedge Funds Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors raised its holdings in NewtekOne by 2.9% during the 1st quarter. Arkadios Wealth Advisors now owns 47,279 shares of the business services provider’s stock valued at $520,000 after buying an additional 1,344 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of NewtekOne by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 72,151 shares of the business services provider’s stock worth $1,064,000 after acquiring an additional 1,798 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of NewtekOne by 30.9% during the 4th quarter. SG Americas Securities LLC now owns 13,058 shares of the business services provider’s stock worth $180,000 after purchasing an additional 3,082 shares during the period. Raymond James & Associates grew its holdings in NewtekOne by 12.5% during the 3rd quarter. Raymond James & Associates now owns 53,465 shares of the business services provider’s stock valued at $789,000 after purchasing an additional 5,953 shares during the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in NewtekOne during the 4th quarter valued at about $89,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

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.