Compass Point Issues Positive Forecast for NewtekOne (NASDAQ:NEWT) Stock Price

NewtekOne (NASDAQ:NEWT - Get Free Report) had its price target increased by investment analysts at Compass Point from $13.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. Compass Point's target price indicates a potential upside of 12.72% from the stock's current price.

Separately, B. Riley upped their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $14.50.

NewtekOne Stock Performance

Shares of NEWT stock traded up $0.08 during trading hours on Thursday, reaching $12.42. The company had a trading volume of 57,761 shares, compared to its average volume of 162,196. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. The business has a fifty day moving average price of $12.70 and a 200-day moving average price of $12.97. NewtekOne has a one year low of $10.43 and a one year high of $15.49. The firm has a market cap of $326.53 million, a PE ratio of 6.94 and a beta of 1.33.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. The company had revenue of $75.37 million during the quarter, compared to analysts' expectations of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. Sell-side analysts predict that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Remove Ads

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of NewtekOne by 285.2% in the third quarter. Barclays PLC now owns 30,201 shares of the business services provider's stock worth $376,000 after buying an additional 22,360 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in NewtekOne by 94.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,120 shares of the business services provider's stock valued at $425,000 after acquiring an additional 16,596 shares during the last quarter. Bailard Inc. purchased a new stake in NewtekOne in the 4th quarter worth $257,000. Nisa Investment Advisors LLC boosted its holdings in shares of NewtekOne by 137.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider's stock valued at $56,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of NewtekOne during the third quarter valued at about $1,902,000. 38.35% of the stock is currently 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.