Piper Sandler analyst Crispin Love lowered the firm’s price target on NewtekOne to $11 from $13 and keeps a Neutral rating on the shares. On Friday after the close, NewtekOne filed Form 12b-25 indicating that it wouldn’t be able to file its 10-K on time due to weaknesses in internal controls. The firm was disappointed to see the filing, but not terribly surprised given NewtekOne’s disclosure during its recent earnings release saying that it made restatements to Q1-Q3 2023 due to errors made in prior financial statements.
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Read More on NEWT:
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