NewtekOne (NASDAQ:NEWT) Given “Market Perform” Rating at Keefe, Bruyette & Woods

NewtekOne (NASDAQ:NEWT)‘s stock had its “market perform” rating reissued by Keefe, Bruyette & Woods in a report issued on Friday,Benzinga reports. They presently have a $15.00 target price on the business services provider’s stock, up from their prior target price of $13.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 8.70% from the company’s current price.

Separately, B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 4th.

NewtekOne Stock Performance

Shares of NASDAQ NEWT traded down $0.43 during mid-day trading on Friday, hitting $13.80. The company had a trading volume of 50,527 shares, compared to its average volume of 157,990. The stock’s 50-day moving average price is $12.53 and its 200-day moving average price is $12.73. The company has a market capitalization of $358.30 million, a price-to-earnings ratio of 8.03 and a beta of 1.29. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a 1 year low of $10.07 and a 1 year high of $15.25.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $0.26 earnings per share. On average, sell-side analysts forecast that NewtekOne will post 1.9 earnings per share for the current year.

Insider Activity

In other news, CEO Barry Sloane purchased 40,134 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $11.75 per share, with a total value of $471,574.50. Following the completion of the purchase, the chief executive officer now directly owns 1,187,457 shares in the company, valued at approximately $13,952,619.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have purchased 48,283 shares of company stock worth $569,472. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewtekOne

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC raised its position in NewtekOne by 156.0% in the 3rd quarter. Quest Partners LLC now owns 33,618 shares of the business services provider’s stock worth $419,000 after purchasing an additional 20,488 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after buying an additional 2,002 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of NewtekOne by 1,146.0% in the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock worth $761,000 after buying an additional 56,154 shares during the period. nVerses Capital LLC lifted its stake in shares of NewtekOne by 96.7% in the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 2,900 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in NewtekOne during the 3rd quarter valued at about $101,000. 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.