NewtekOne (NASDAQ:NEWT) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

NewtekOne, Inc. (NASDAQ:NEWT)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.81 and traded as low as $10.40. NewtekOne shares last traded at $10.57, with a volume of 231,483 shares changing hands.

Analyst Ratings Changes

NEWT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Keefe, Bruyette & Woods increased their target price on NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a report on Thursday, January 22nd. Finally, Piper Sandler boosted their price target on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.33.

NewtekOne Price Performance

The stock has a market capitalization of $304.73 million, a PE ratio of 4.83 and a beta of 1.25. The firm’s fifty day moving average price is $12.63 and its two-hundred day moving average price is $11.81. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 6.41.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. NewtekOne had a net margin of 15.51% and a return on equity of 18.83%. The company had revenue of $120.83 million for the quarter, compared to analysts’ expectations of $80.01 million. On average, equities analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 24th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Tuesday, March 24th. NewtekOne’s dividend payout ratio (DPR) is 34.70%.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane acquired 3,595 shares of NewtekOne stock in a transaction that occurred on Wednesday, January 14th. The stock was bought at an average price of $13.91 per share, for a total transaction of $50,006.45. Following the completion of the transaction, the chief executive officer owned 1,194,180 shares in the company, valued at $16,611,043.80. The trade was a 0.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Adam Schwartz bought 2,247 shares of the stock in a transaction on Wednesday, January 14th. The stock was purchased at an average cost of $13.91 per share, for a total transaction of $31,255.77. Following the acquisition, the insider owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 8,656 shares of company stock valued at $120,405 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Several institutional investors have recently made changes to their positions in NEWT. Prudential Financial Inc. boosted its holdings in shares of 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 buying an additional 139,177 shares during the last quarter. North Reef Capital Management LP purchased a new stake in NewtekOne during the third quarter valued at approximately $4,430,000. Boston Partners bought a new position in NewtekOne in the second quarter worth approximately $801,000. Huber Capital Management LLC bought a new position in NewtekOne in the fourth quarter worth approximately $978,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of NewtekOne during the 4th quarter worth $397,000. Institutional investors own 38.35% of the company’s stock.

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.