NewtekOne (NASDAQ:NEWT) Price Target Raised to $14.00 at B. Riley

NewtekOne (NASDAQ:NEWT - Get Free Report) had its target price hoisted by equities researchers at B. Riley from $13.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. B. Riley's target price suggests a potential upside of 11.02% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $15.00 target price (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Piper Sandler increased their target price on NewtekOne from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, November 11th.

NewtekOne Stock Down 0.3 %

Shares of NASDAQ NEWT traded down $0.04 during trading on Thursday, reaching $12.61. 224,363 shares of the stock were exchanged, compared to its average volume of 156,941. The business's 50-day moving average price is $13.83 and its 200 day moving average price is $13.09. The company has a market capitalization of $331.77 million, a price-to-earnings ratio of 7.04 and a beta of 1.30. NewtekOne has a twelve month low of $10.07 and a twelve month high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $61.76 million. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts forecast that NewtekOne will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane purchased 40,134 shares of the company's stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $11.75 per share, for a total transaction of $471,574.50. Following the completion of the purchase, the chief executive officer now owns 1,187,457 shares of the company's stock, valued at $13,952,619.75. This trade represents a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 44,634 shares of company stock worth $535,640 over the last ninety days. Company insiders own 6.50% of the company's stock.

Hedge Funds Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEWT. FMR LLC grew its position in NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider's stock valued at $32,000 after buying an additional 1,835 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider's stock valued at $94,000 after acquiring an additional 2,002 shares in the last quarter. nVerses Capital LLC boosted its holdings in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider's stock valued at $74,000 after acquiring an additional 2,900 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of NewtekOne by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider's stock valued at $173,000 after acquiring an additional 3,094 shares during the period. Finally, Rhumbline Advisers raised its holdings in NewtekOne by 12.0% during the second quarter. Rhumbline Advisers now owns 33,665 shares of the business services provider's stock worth $423,000 after purchasing an additional 3,617 shares in the last quarter. 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.