B. Riley Downgrades NewtekOne (NASDAQ:NEWT) to Neutral

B. Riley lowered shares of NewtekOne (NASDAQ:NEWT) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $13.00 target price on the business services provider’s stock, down from their previous target price of $16.00. B. Riley also issued estimates for NewtekOne’s Q3 2024 earnings at $0.37 EPS, FY2024 earnings at $1.78 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $1.92 EPS.

Separately, StockNews.com raised NewtekOne from a sell rating to a hold rating in a research report on Tuesday, May 7th.

NewtekOne Stock Down 3.4 %

Shares of NASDAQ NEWT opened at $11.26 on Wednesday. NewtekOne has a one year low of $10.07 and a one year high of $17.58. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. The business’s fifty day moving average price is $13.01 and its 200-day moving average price is $12.32. The stock has a market capitalization of $278.50 million, a PE ratio of 7.26 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. The firm had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that NewtekOne will post 1.92 EPS for the current year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.76 dividend on an annualized basis and a yield of 6.75%. NewtekOne’s dividend payout ratio (DPR) is 49.03%.

Insider Buying and Selling

In related news, CFO Michael Scott Price acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $12.59 per share, with a total value of $25,180.00. Following the acquisition, the chief financial officer now owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Michael Scott Price acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $12.59 per share, with a total value of $25,180.00. Following the acquisition, the chief financial officer now owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry Sloane acquired 6,649 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $12.13 per share, for a total transaction of $80,652.37. Following the acquisition, the chief executive officer now directly owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 14,649 shares of company stock valued at $183,352. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in NewtekOne in the 2nd quarter worth about $62,000. Cape Investment Advisory Inc. bought a new position in NewtekOne in the 4th quarter worth about $89,000. Kinloch Capital LLC bought a new position in NewtekOne in the 1st quarter worth about $148,000. Jump Financial LLC bought a new position in NewtekOne in the 4th quarter worth about $155,000. Finally, BNP Paribas Financial Markets increased its stake in NewtekOne by 124.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock worth $158,000 after acquiring an additional 7,961 shares during the last quarter. 38.35% of the stock is currently owned by institutional investors.

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.