NewtekOne (NASDAQ:NEWT) Stock Price Expected to Rise, Compass Point Analyst Says

NewtekOne (NASDAQ:NEWT) had its price target lifted by equities research analysts at Compass Point from $13.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Compass Point’s target price points to a potential upside of 11.64% from the stock’s current price.

Separately, B. Riley boosted their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, NewtekOne has a consensus rating of “Hold” and a consensus target price of $14.50.

NewtekOne Stock Performance

NEWT stock traded up $0.03 during trading on Thursday, reaching $12.54. 68,994 shares of the company’s stock were exchanged, compared to its average volume of 161,784. 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 has a 1-year low of $10.07 and a 1-year high of $15.49. The company’s fifty day moving average price is $12.70 and its 200-day moving average price is $12.95. The firm has a market cap of $329.86 million, a PE ratio of 7.00 and a beta of 1.33.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $75.37 million during the quarter, compared to analyst estimates of $69.55 million. On average, research analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane bought 3,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $12.95 per share, with a total value of $38,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 4,750 shares of company stock valued at $61,368. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NewtekOne by 8.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider’s stock worth $176,000 after purchasing an additional 1,081 shares during the period. Tower Research Capital LLC TRC raised its position in NewtekOne by 199.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock valued at $33,000 after buying an additional 1,703 shares during the period. FMR LLC raised its position in NewtekOne by 253.5% during the third 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 during the period. Aquatic Capital Management LLC raised its position in NewtekOne by 66.2% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock valued at $70,000 after buying an additional 2,184 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in NewtekOne by 137.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock valued at $56,000 after buying an additional 2,500 shares during the period. 38.35% of the stock is owned by institutional investors and hedge funds.

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.