NewtekOne (NASDAQ:NEWT) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of NewtekOne (NASDAQ:NEWT) from a hold rating to a sell rating in a research note released on Friday.

Other equities analysts have also issued research reports about the company. B. Riley restated a buy rating and issued a $18.00 price target (down previously from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. Keefe, Bruyette & Woods cut their price objective on NewtekOne from $16.00 to $13.00 and set a market perform rating for the company in a research note on Wednesday, March 20th. Finally, Piper Sandler cut their price objective on NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, NewtekOne has an average rating of Hold and a consensus target price of $14.50.

NewtekOne Price Performance

Shares of NewtekOne stock opened at $11.16 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. NewtekOne has a twelve month low of $10.07 and a twelve month high of $19.36. The business has a 50-day moving average price of $11.21 and a 200 day moving average price of $12.60. The firm has a market cap of $286.14 million, a PE ratio of 6.89 and a beta of 1.25.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The business had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $62.99 million. During the same quarter in the prior year, the firm earned $0.06 EPS. Sell-side analysts predict that NewtekOne will post 1.83 earnings per share for the current fiscal year.

NewtekOne Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.19 per share. This is a positive change from NewtekOne’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend was Thursday, March 28th. NewtekOne’s payout ratio is 46.91%.

Institutional Investors Weigh In On NewtekOne

Several large investors have recently bought and sold shares of NEWT. Cape Investment Advisory Inc. purchased a new stake in NewtekOne during the 4th quarter worth approximately $89,000. SeaBridge Investment Advisors LLC acquired a new position in shares of NewtekOne during the 4th quarter worth approximately $138,000. SG Americas Securities LLC acquired a new position in shares of NewtekOne during the 3rd quarter worth approximately $147,000. Jump Financial LLC acquired a new position in shares of NewtekOne during the 4th quarter worth approximately $155,000. Finally, Kinloch Capital LLC acquired a new position in shares of NewtekOne during the 3rd quarter worth approximately $196,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

About NewtekOne

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.