Compass Point Boosts NewtekOne (NASDAQ:NEWT) Price Target to $14.00

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

Separately, B. Riley lifted 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, NewtekOne has a consensus rating of “Hold” and an average target price of $14.50.

NewtekOne Stock Performance

Shares of NEWT stock opened at $12.34 on Thursday. The firm’s 50 day moving average is $12.70 and its 200 day moving average is $12.95. The stock has a market capitalization of $324.43 million, a P/E ratio of 6.89 and a beta of 1.33. NewtekOne has a 12 month low of $10.30 and a 12 month high of $15.49. 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) 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 firm had revenue of $75.37 million for the quarter, compared to the consensus estimate of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. On average, sell-side analysts anticipate that NewtekOne will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Barry Sloane purchased 3,000 shares of the business’s 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 purchase, the chief executive officer now directly owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This represents a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 5,250 shares of company stock worth $67,608 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of NewtekOne

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC raised its position in NewtekOne by 156.0% during the third quarter. Quest Partners LLC now owns 33,618 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 20,488 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of NewtekOne by 245.1% during 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of NewtekOne during the 3rd quarter valued at about $197,000. FMR LLC lifted its position 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 buying an additional 1,835 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in NewtekOne by 28.7% in the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock worth $173,000 after buying an additional 3,094 shares in the last quarter. 38.35% of the stock is 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.