B. Riley Lowers NewtekOne (NASDAQ:NEWT) to Neutral

B. Riley cut shares of NewtekOne (NASDAQ:NEWT) from a buy rating to a neutral rating in a research note released on Wednesday morning, Marketbeat.com reports. They currently have $13.00 target price on the business services provider’s stock, down from their prior target price of $16.00.

Separately, StockNews.com raised shares of NewtekOne from a sell rating to a hold rating in a research report on Tuesday, May 7th.

NewtekOne Price Performance

Shares of NEWT stock opened at $11.54 on Wednesday. NewtekOne has a 12 month low of $10.07 and a 12 month high of $17.78. The company has a market capitalization of $285.43 million, a P/E ratio of 7.45 and a beta of 1.30. The stock has a 50 day moving average of $13.07 and a two-hundred day moving average of $12.33. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. The firm had revenue of $81.37 million for the quarter, compared to the consensus estimate of $59.68 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. As a group, equities analysts expect that NewtekOne will post 1.92 EPS for the current year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.59%. The ex-dividend date was Tuesday, July 9th. NewtekOne’s payout ratio is 49.03%.

Insider Buying and Selling

In other news, CEO Barry Sloane purchased 5,000 shares of NewtekOne stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,140,674 shares in the company, valued at $14,737,508.08. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Michael Scott Price bought 2,000 shares of NewtekOne stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the completion of the transaction, the chief financial officer now owns 21,681 shares of the company’s stock, valued at $272,963.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barry Sloane purchased 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $12.92 per share, with a total value of $64,600.00. Following the acquisition, the chief executive officer now owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The disclosure for this purchase can be found here. Insiders bought 14,649 shares of company stock worth $183,352 in the last quarter. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in NewtekOne during the 2nd quarter valued at about $62,000. Cape Investment Advisory Inc. bought a new position in NewtekOne during the 4th quarter worth approximately $89,000. Kinloch Capital LLC bought a new position in shares of NewtekOne during the first quarter worth $148,000. Jump Financial LLC acquired a new position in NewtekOne in the fourth quarter valued at about $155,000. Finally, BNP Paribas Financial Markets grew its position in shares of NewtekOne by 124.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 7,961 shares during the period. Institutional investors own 38.35% of the company’s stock.

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.