B. Riley Forecasts Strong Price Appreciation for NewtekOne (NASDAQ:NEWT) Stock

NewtekOne (NASDAQ:NEWT) had its price target boosted by investment analysts at B. Riley from $13.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. B. Riley’s price target would indicate a potential upside of 10.24% from the company’s current price.

Several other research analysts have also recently weighed in on NEWT. Piper Sandler upped their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

NewtekOne Stock Up 0.7 %

NEWT opened at $12.70 on Thursday. The firm has a market capitalization of $334.14 million, a P/E ratio of 7.10 and a beta of 1.30. NewtekOne has a one year low of $10.07 and a one year high of $15.49. The company has a fifty day moving average price of $13.83 and a 200-day moving average price of $13.08. 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 the consensus estimate of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. During the same period in the previous year, the business earned $0.38 earnings per share. Equities research analysts expect that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was bought at an average price of $14.75 per share, with a total value of $44,250.00. Following the purchase, the chief executive officer now 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 legal filing with the SEC, which is available at this link. In the last three months, insiders have bought 44,134 shares of company stock valued at $529,775. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On NewtekOne

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in NewtekOne by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider’s stock worth $7,149,000 after purchasing an additional 22,167 shares during the period. State Street Corp increased its stake in shares of NewtekOne by 1.0% in the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock worth $5,911,000 after buying an additional 4,595 shares during the period. Marshall Wace LLP increased its stake in shares of NewtekOne by 200.3% in the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after buying an additional 180,468 shares during the period. American Century Companies Inc. raised its holdings in NewtekOne by 27.2% during 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in NewtekOne by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 184,053 shares of the business services provider’s stock valued at $2,314,000 after buying an additional 6,640 shares during the period. 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.