NewtekOne (NASDAQ:NEWT) Lowered to Neutral at B. Riley

B. Riley lowered shares of NewtekOne (NASDAQ:NEWT) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat Ratings reports. B. Riley currently has $13.00 target price on the business services provider’s stock, down from their previous target price of $16.00. B. Riley also issued estimates for NewtekOne’s Q3 2024 earnings at $0.37 EPS, FY2024 earnings at $1.78 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $1.92 EPS.

Separately, StockNews.com raised NewtekOne from a sell rating to a hold rating in a report on Tuesday, May 7th.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $11.26 on Wednesday. The firm has a market cap of $278.50 million, a price-to-earnings ratio of 7.26 and a beta of 1.30. The firm has a fifty day moving average price of $13.04 and a 200 day moving average price of $12.32. NewtekOne has a fifty-two week low of $10.07 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.42 and a current ratio of 1.42.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $81.37 million during the quarter, compared to analyst estimates of $59.68 million. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. During the same quarter last year, the business posted $0.26 earnings per share. As a group, sell-side analysts expect that NewtekOne will post 1.92 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.76 annualized dividend and a yield of 6.75%. NewtekOne’s dividend payout ratio is currently 49.03%.

Insiders Place Their Bets

In related news, CFO Michael Scott Price bought 2,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $12.59 per share, for a total transaction of $25,180.00. Following the acquisition, the chief financial officer now owns 21,681 shares in the company, valued at $272,963.79. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Michael Scott Price bought 2,000 shares of NewtekOne stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $12.59 per share, with a total value of $25,180.00. Following the completion of the purchase, the chief financial officer now owns 21,681 shares in the company, valued at approximately $272,963.79. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barry Sloane purchased 6,649 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $12.13 per share, with a total value of $80,652.37. Following the completion of the purchase, the chief executive officer now owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. The disclosure for this purchase can be found here. Insiders have purchased 14,649 shares of company stock valued at $183,352 over the last ninety days. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently modified their holdings of NEWT. Vanguard Group Inc. increased its stake in NewtekOne by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock worth $15,055,000 after purchasing an additional 17,505 shares during the period. Marshall Wace LLP grew its holdings 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 purchasing an additional 180,468 shares during the last quarter. American Century Companies Inc. increased 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 worth $2,397,000 after buying an additional 40,738 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 in the last quarter. Finally, Ancora Advisors LLC boosted its position in NewtekOne by 43.5% in the 1st quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider’s stock valued at $1,440,000 after buying an additional 39,659 shares during the period. 38.35% of the stock is owned by 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.