NewtekOne (NASDAQ:NEWT) Given New $14.00 Price Target at B. Riley

NewtekOne (NASDAQ:NEWT) had its target price upped by B. Riley from $13.00 to $14.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other research firms have also weighed in on NEWT. Piper Sandler boosted their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th.

NewtekOne Stock Performance

NASDAQ:NEWT traded up $0.06 during mid-day trading on Thursday, reaching $12.67. 33,181 shares of the stock were exchanged, compared to its average volume of 156,314. The stock has a market capitalization of $333.35 million, a P/E ratio of 7.08 and a beta of 1.30. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The company has a 50 day simple moving average of $13.84 and a 200-day simple moving average of $13.09. NewtekOne has a 1 year low of $10.07 and a 1 year high of $15.49.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The firm had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. During the same period in the prior year, the company posted $0.38 earnings per share. Analysts anticipate that NewtekOne will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Tuesday, December 31st. NewtekOne’s dividend payout ratio is currently 42.46%.

Insider Activity

In other NewtekOne news, CEO Barry Sloane bought 3,000 shares of NewtekOne stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,161,855 shares of the company’s stock, valued at approximately $17,137,361.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 44,134 shares of company stock worth $529,775 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Marshall Wace LLP grew its position in NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after purchasing an additional 180,468 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of NewtekOne during the 3rd quarter worth about $1,902,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in NewtekOne by 245.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock valued at $1,137,000 after acquiring an additional 64,790 shares during the period. International Assets Investment Management LLC grew its stake in shares of NewtekOne by 1,146.0% in the 3rd quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock valued at $761,000 after purchasing an additional 56,154 shares during the period. Finally, American Century Companies Inc. boosted its stake in NewtekOne by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock valued at $2,397,000 after buying an additional 40,738 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

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.