NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.10 and traded as high as $13.44. NewtekOne shares last traded at $13.34, with a volume of 119,192 shares traded.
Wall Street Analysts Forecast Growth
NEWT has been the topic of several analyst reports. Piper Sandler boosted 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Finally, B. Riley raised their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th.
Read Our Latest Stock Analysis on NewtekOne
NewtekOne Stock Performance
The firm's 50 day simple moving average is $13.36 and its 200 day simple moving average is $13.10. The firm has a market cap of $343.87 million, a PE ratio of 7.30 and a beta of 1.32. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98.
NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The company had revenue of $83.12 million for the quarter, compared to analysts' expectations of $61.76 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, research analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.
NewtekOne Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date was Tuesday, December 31st. NewtekOne's payout ratio is 42.46%.
Insiders Place Their Bets
In other NewtekOne news, CEO Barry Sloane bought 3,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now directly owns 1,164,855 shares in the company, valued at $15,084,872.25. This represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 8,750 shares of company stock worth $119,568 in the last three months. Corporate insiders own 6.50% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in NEWT. Geode Capital Management LLC lifted its holdings in shares of NewtekOne by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider's stock valued at $7,149,000 after buying an additional 22,167 shares during the period. State Street Corp boosted its position in NewtekOne by 1.0% in the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider's stock worth $5,911,000 after purchasing an additional 4,595 shares in the last quarter. Marshall Wace LLP grew its stake in shares of NewtekOne by 200.3% during the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider's stock worth $3,401,000 after purchasing an additional 180,468 shares during the period. Wellington Management Group LLP purchased a new position in shares of NewtekOne during the 3rd quarter valued at approximately $1,902,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of NewtekOne by 245.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider's stock valued at $1,137,000 after purchasing an additional 64,790 shares during the period. Hedge funds and other institutional investors own 38.35% of the company's stock.
NewtekOne Company Profile
(
Get Free Report)
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.
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