NewtekOne (NASDAQ:NEWT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of NewtekOne, Inc. (NASDAQ:NEWT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.10 and traded as high as $13.44. NewtekOne shares last traded at $13.34, with a volume of 119,192 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEWT. Piper Sandler increased their price objective on NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. B. Riley increased their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $15.00 price objective (up previously from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

NewtekOne Stock Up 1.2 %

The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $350.98 million, a PE ratio of 7.45 and a beta of 1.32. The company has a 50 day moving average price of $13.38 and a 200-day moving average price of $13.10.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, beating 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 business had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date was Tuesday, December 31st. NewtekOne’s payout ratio is currently 42.46%.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the acquisition, the chief executive officer now owns 1,164,855 shares in the company, valued at $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have bought 8,750 shares of company stock valued at $119,568. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NewtekOne

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 1,835 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of NewtekOne by 137.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 2,500 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of NewtekOne by 96.7% during the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of NewtekOne by 36.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of NewtekOne in the 3rd quarter worth approximately $101,000. 38.35% of the stock is owned by hedge funds and other 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.