NewtekOne (NASDAQ:NEWT) Stock Price Expected to Rise, B. Riley Analyst Says

NewtekOne (NASDAQ:NEWT) had its price objective raised by stock analysts at B. Riley from $13.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. B. Riley’s target price would indicate a potential upside of 10.06% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler upped their price target on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

NewtekOne Price Performance

Shares of NEWT stock traded up $0.07 during mid-day trading on Thursday, hitting $12.72. The company had a trading volume of 69,002 shares, compared to its average volume of 156,227. The company has a market capitalization of $334.66 million, a P/E ratio of 7.11 and a beta of 1.30. The stock’s 50 day moving average price is $13.83 and its 200-day moving average price is $13.09. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

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

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the purchase, the chief executive officer now owns 1,161,855 shares in the company, 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 link. Insiders acquired a total of 44,634 shares of company stock worth $535,640 in the last quarter. 6.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewtekOne

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of NewtekOne by 253.5% during the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after acquiring an additional 1,835 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of NewtekOne during the 2nd quarter valued at approximately $62,000. nVerses Capital LLC increased its holdings in NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after buying an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after acquiring an additional 2,002 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of NewtekOne during the 3rd quarter valued at about $101,000. Hedge funds and other institutional investors 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.