NewtekOne (NASDAQ:NEWT) Receives "Market Perform" Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of NewtekOne (NASDAQ:NEWT - Free Report) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $15.00 price target on the business services provider's stock, up from their prior price target of $13.00.

Separately, B. Riley downgraded NewtekOne from a "buy" rating to a "neutral" rating and decreased their target price for the company from $16.00 to $13.00 in a research report on Wednesday, September 4th.

NewtekOne Stock Performance

NASDAQ NEWT traded down $0.15 during trading on Friday, reaching $14.08. 145,957 shares of the company's stock were exchanged, compared to its average volume of 149,540. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50 day moving average price of $12.56 and a 200-day moving average price of $12.76. The stock has a market capitalization of $365.52 million, a P/E ratio of 7.87 and a beta of 1.29. NewtekOne has a fifty-two week low of $10.07 and a fifty-two week high of $15.25.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its earnings results on Monday, August 5th. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $81.37 million during the quarter, compared to the consensus estimate of $59.68 million. NewtekOne had a net margin of 14.92% and a return on equity of 19.17%. During the same quarter in the previous year, the firm posted $0.26 EPS. Sell-side analysts forecast that NewtekOne will post 1.9 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Thursday, October 10th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne's dividend payout ratio is presently 42.46%.

Insiders Place Their Bets

In related news, CEO Barry Sloane purchased 40,134 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $11.75 per share, with a total value of $471,574.50. Following the acquisition, 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 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders acquired 48,283 shares of company stock valued at $569,472. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NEWT. BNP Paribas Financial Markets grew its holdings in shares of NewtekOne by 124.5% during the first quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider's stock worth $158,000 after purchasing an additional 7,961 shares during the last quarter. Vanguard Group Inc. grew its holdings in NewtekOne by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider's stock worth $15,055,000 after acquiring an additional 17,505 shares during the last quarter. Kinloch Capital LLC acquired a new position in NewtekOne in the 1st quarter valued at approximately $148,000. Avenir Corp raised its stake in shares of NewtekOne by 46.6% during the first quarter. Avenir Corp now owns 59,800 shares of the business services provider's stock valued at $658,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of NewtekOne by 43.5% during the first quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider's stock worth $1,440,000 after purchasing an additional 39,659 shares during the period. 38.35% of the stock is currently owned by institutional investors.

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.