Wall Street Zen Upgrades NewtekOne (NASDAQ:NEWT) to Hold

NewtekOne (NASDAQ:NEWT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $13.00 target price (up from $12.00) on shares of NewtekOne in a research note on Friday, September 19th. Finally, B. Riley started coverage on NewtekOne in a research report on Monday, September 15th. They set a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.25.

NewtekOne Trading Down 0.4%

NEWT stock opened at $11.48 on Friday. The business has a fifty day moving average price of $10.86 and a 200 day moving average price of $11.32. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67. NewtekOne has a fifty-two week low of $9.12 and a fifty-two week high of $13.74. The stock has a market capitalization of $331.66 million, a price-to-earnings ratio of 5.15 and a beta of 1.26.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Wednesday, October 29th. The business services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%.The company had revenue of $74.94 million for the quarter, compared to analysts’ expectations of $78.31 million. Analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Barry Sloane acquired 10,000 shares of NewtekOne stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $10.22 per share, with a total value of $102,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,212,459 shares in the company, valued at $12,391,330.98. This trade represents a 0.83% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 13,189 shares of company stock valued at $137,736. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of NewtekOne

Several large investors have recently modified their holdings of NEWT. Nuveen LLC bought a new position in shares of NewtekOne in the first quarter worth $758,000. Russell Investments Group Ltd. grew its stake in NewtekOne by 14.3% during the first quarter. Russell Investments Group Ltd. now owns 48,432 shares of the business services provider’s stock worth $579,000 after buying an additional 6,053 shares in the last quarter. AlphaQuest LLC increased its holdings in NewtekOne by 49.4% in the 1st quarter. AlphaQuest LLC now owns 20,117 shares of the business services provider’s stock valued at $241,000 after buying an additional 6,652 shares during the period. Jump Financial LLC raised its position in shares of NewtekOne by 217.1% in the 1st quarter. Jump Financial LLC now owns 33,114 shares of the business services provider’s stock valued at $396,000 after buying an additional 22,672 shares in the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of NewtekOne by 27.5% during the 1st quarter. Trexquant Investment LP now owns 94,219 shares of the business services provider’s stock worth $1,127,000 after acquiring an additional 20,350 shares during the period. 38.35% of the stock is owned by institutional investors and hedge funds.

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.