NewtekOne (NASDAQ:NEWT) Price Target Raised to $14.00

NewtekOne (NASDAQ:NEWT) had its price objective raised by Compass Point from $13.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Separately, B. Riley boosted their target price on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.50.

NewtekOne Stock Down 1.3 %

Shares of NEWT opened at $12.34 on Thursday. The company has a market capitalization of $324.43 million, a P/E ratio of 6.89 and a beta of 1.33. 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 has a one year low of $10.43 and a one year high of $15.49. The business’s 50 day simple moving average is $12.70 and its 200-day simple moving average is $12.96.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $75.37 million for the quarter, compared to the consensus estimate of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. As a group, sell-side analysts predict that NewtekOne will post 1.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane bought 3,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the transaction, the chief executive officer now owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. The trade was a 0.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have bought 5,250 shares of company stock valued at $67,608. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NewtekOne

Several institutional investors and hedge funds have recently made changes to their positions in NEWT. Wellington Management Group LLP bought a new stake in shares of NewtekOne during the 3rd quarter valued at $1,902,000. Bank of New York Mellon Corp raised its position in shares of NewtekOne by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock valued at $3,563,000 after acquiring an additional 113,261 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of NewtekOne by 308.9% during the 4th quarter. JPMorgan Chase & Co. now owns 139,517 shares of the business services provider’s stock valued at $1,782,000 after acquiring an additional 105,397 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of NewtekOne during the 4th quarter valued at $1,125,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of NewtekOne by 245.1% during the 3rd 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 last quarter. Institutional investors own 38.35% of the company’s stock.

NewtekOne Company Profile

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.