Keefe Bruyette lowered the firm’s price target on NewtekOne to $13 from $16 and keeps a Market Perform rating on the shares. The analyst views the 1c dividend increase as an action by the board to maintain the company’s capital return in line with the expectations of legacy shareholders. The firm cites the announcement of a delay to the 10-K filing and identification of material weaknesses in internal controls for the target drop.
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Read More on NEWT:
- NewtekOne, Inc. Declares a Quarterly Dividend of $0.19 per Share
- NewtekOne price target lowered to $11 from $13 at Piper Sandler
- NewtekOne price target lowered to $18 from $19 at B. Riley
- NewtekOne, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results
- NewtekOne reports Q4 EPS 53c, consensus 58c
