Piper Sandler Increases NewtekOne (NASDAQ:NEWT) Price Target to $15.00

NewtekOne (NASDAQ:NEWT - Free Report) had its price target hoisted by Piper Sandler from $13.00 to $15.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the business services provider's stock.

Several other research firms have also issued reports on NEWT. B. Riley lowered shares of NewtekOne from a "buy" rating to a "neutral" rating and cut their price target for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a research note on Friday.

NewtekOne Stock Up 9.8 %

Shares of NEWT traded up $1.38 during trading hours on Monday, hitting $15.46. The company had a trading volume of 391,782 shares, compared to its average volume of 159,514. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96. The company has a market capitalization of $401.40 million, a PE ratio of 8.61 and a beta of 1.29. NewtekOne has a one year low of $10.07 and a one year high of $15.49. The company's fifty day moving average price is $12.56 and its two-hundred day moving average price is $12.78.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 19.17%. The business had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that NewtekOne will post 1.91 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Thursday, October 10th. NewtekOne's dividend payout ratio (DPR) is presently 42.46%.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane bought 6,649 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $12.13 per share, with a total value of $80,652.37. Following the completion of the acquisition, the chief executive officer now directly owns 1,147,323 shares of the company's stock, valued at $13,917,027.99. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 48,283 shares of company stock valued at $569,472 in the last ninety days. Company insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On NewtekOne

Several hedge funds have recently added to or reduced their stakes in NEWT. International Assets Investment Management LLC acquired a new position in shares of NewtekOne in the 2nd quarter valued at about $62,000. nVerses Capital LLC lifted its holdings in 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 during the period. Harbor Capital Advisors Inc. boosted its position in NewtekOne by 36.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider's stock worth $94,000 after purchasing an additional 2,002 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of NewtekOne during the 3rd quarter worth approximately $101,000. Finally, Kinloch Capital LLC acquired a new stake in shares of NewtekOne during the 1st quarter worth approximately $148,000. 38.35% of the stock is owned by hedge funds and other 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.