NewtekOne (NASDAQ:NEWT) Share Price Crosses Above 200-Day Moving Average – Here’s Why

NewtekOne, Inc. (NASDAQ:NEWT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.49 and traded as high as $14.68. NewtekOne shares last traded at $14.59, with a volume of 477,016 shares changing hands.

Analyst Upgrades and Downgrades

NEWT has been the topic of several research analyst reports. Weiss Ratings restated 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 set a $13.00 target price (up from $12.00) on shares of NewtekOne in a report on Friday, September 19th. Wall Street Zen raised shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Piper Sandler boosted their price objective on shares of NewtekOne from $12.50 to $13.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.50.

NewtekOne Price Performance

The company has a market capitalization of $421.51 million, a P/E ratio of 6.54 and a beta of 1.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69. The business has a 50 day simple moving average of $11.39 and a 200-day simple moving average of $11.49.

NewtekOne (NASDAQ:NEWT) last released its quarterly 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 net margin of 15.59% and a return on equity of 19.93%. The business had revenue of $74.94 million during the quarter, compared to analyst estimates of $78.31 million. Analysts predict that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd were paid a $0.19 dividend. The ex-dividend date was Monday, December 22nd. This represents a $0.76 annualized dividend and a dividend yield of 5.2%. NewtekOne’s dividend payout ratio (DPR) is presently 34.08%.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $10.22 per share, with a total value of $102,200.00. Following the completion of the acquisition, the chief executive officer owned 1,212,459 shares in the company, valued at approximately $12,391,330.98. This represents a 0.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 13,189 shares of company stock worth $137,736 over the last quarter. Insiders own 6.70% of the company’s stock.

Institutional Trading of NewtekOne

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its holdings in NewtekOne by 190.5% in the second quarter. Prudential Financial Inc. now owns 212,228 shares of the business services provider’s stock worth $2,394,000 after purchasing an additional 139,177 shares during the period. Boston Partners acquired a new position in NewtekOne during the 2nd quarter valued at about $801,000. Los Angeles Capital Management LLC raised its position in shares of NewtekOne by 61.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 68,662 shares of the business services provider’s stock worth $775,000 after buying an additional 26,109 shares in the last quarter. Magnetar Financial LLC raised its position in shares of NewtekOne by 304.3% during the 2nd quarter. Magnetar Financial LLC now owns 54,039 shares of the business services provider’s stock worth $610,000 after buying an additional 40,672 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of NewtekOne by 32.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 210,067 shares of the business services provider’s stock worth $2,370,000 after acquiring an additional 51,085 shares during the period. 38.35% of the stock is currently owned by institutional investors and hedge funds.

NewtekOne Company Profile

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.