NewtekOne (NASDAQ:NEWT) Given New $14.00 Price Target at B. Riley

NewtekOne (NASDAQ:NEWT) had its price objective increased by research analysts at B. Riley from $13.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. B. Riley’s price target points to a potential upside of 10.24% from the stock’s previous close.

NEWT has been the topic of several other research reports. Piper Sandler boosted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

NewtekOne Price Performance

NEWT opened at $12.70 on Thursday. 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 stock has a market capitalization of $334.14 million, a PE ratio of 7.10 and a beta of 1.30. The stock’s 50 day moving average price is $13.83 and its 200-day moving average price is $13.08. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.49.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The business had revenue of $83.12 million for the quarter, compared to the consensus estimate of $61.76 million. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities research analysts predict that NewtekOne will post 1.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO Barry Sloane acquired 40,134 shares of the stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $11.75 per share, for a total transaction of $471,574.50. Following the completion of the purchase, the chief executive officer now owns 1,187,457 shares of the company’s stock, valued at $13,952,619.75. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 44,134 shares of company stock worth $529,775 in the last three months. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,835 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of NewtekOne in the second quarter worth approximately $62,000. nVerses Capital LLC lifted its stake in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after buying an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after buying an additional 2,002 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of NewtekOne during the third quarter valued at approximately $101,000. 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.