NewtekOne (NASDAQ:NEWT) Given New $14.00 Price Target at Compass Point

NewtekOne (NASDAQ:NEWT) had its price target hoisted by stock analysts at Compass Point from $13.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Compass Point’s price target suggests a potential upside of 13.45% from the company’s previous close.

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

NewtekOne Price Performance

Shares of NewtekOne stock opened at $12.34 on Thursday. The company’s fifty day simple moving average is $12.70 and its two-hundred day simple moving average is $12.95. NewtekOne has a 12-month low of $10.30 and a 12-month high of $15.49. The firm has a market cap of $324.43 million, a PE ratio of 6.89 and a beta of 1.33. 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 (NASDAQ:NEWT) last posted its earnings results on Wednesday, February 26th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. The company had revenue of $75.37 million for 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%. As a group, equities analysts expect that NewtekOne will post 1.93 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $12.95 per share, with a total value of $38,850.00. Following the completion of the transaction, the chief executive officer now owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. This represents a 0.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 5,250 shares of company stock worth $67,608. Company insiders own 6.50% of the company’s stock.

Institutional Trading of NewtekOne

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in NewtekOne by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock worth $7,467,000 after acquiring an additional 10,933 shares in the last quarter. State Street Corp lifted its holdings in shares of NewtekOne by 1.0% during the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after purchasing an additional 4,595 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NewtekOne by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after purchasing an additional 113,261 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of NewtekOne by 66.2% in the 4th quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider’s stock worth $3,239,000 after buying an additional 100,989 shares during the last quarter. Finally, Northern Trust Corp increased its position in NewtekOne by 9.6% during the 4th quarter. Northern Trust Corp now owns 210,102 shares of the business services provider’s stock valued at $2,683,000 after buying an additional 18,407 shares in the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

NewtekOne Company Profile

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.