NewtekOne, Inc. (NEWT, Financial) has announced a series of strategic leadership changes aimed at fostering growth and enhancing its technology-driven platform. The company has appointed Peter Downs as the President of Newtek Bank. Downs, who will celebrate his 22nd anniversary with NewtekOne in July, has been pivotal in the development of the company’s technology strategy.
Furthermore, Frank DeMaria has been promoted to Chief Financial Officer (CFO) of NewtekOne, while Scott Price continues as the CFO of Newtek Bank, concentrating on crafting the bank’s financial strategy. In addition, Thomas Soucy has ascended to Chief Credit Officer of the bank, and Nicholas Leger is now CFO of several non-bank subsidiaries. Andrew Kaplan, previously serving as Chief Strategy Officer, has been added to the bank's board.
These appointments underscore NewtekOne’s commitment to leveraging its proprietary applications such as The Newtek Advantage, NewTracker, and the secure Newtek File Vault, which are designed to provide business owners with top-tier financial solutions accessible around the clock.
Barry Sloane, CEO, President, and Chairman of NewtekOne, expressed enthusiasm for these changes, highlighting their alignment with the company's growth strategy focused on innovation and technology.
In addition to the leadership restructuring, the company successfully completed another Asset-Backed Lending (ALP) securitization and is poised to report on its quarterly financial performance and future objectives for 2025.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for NewtekOne Inc (NEWT, Financial) is $14.24 with a high estimate of $18.70 and a low estimate of $10.00. The average target implies an upside of 36.66% from the current price of $10.42. More detailed estimate data can be found on the NewtekOne Inc (NEWT) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, NewtekOne Inc's (NEWT, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for NewtekOne Inc (NEWT, Financial) in one year is $31.67, suggesting a upside of 203.93% from the current price of $10.42. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the NewtekOne Inc (NEWT) Summary page.
