Fmr LLC Raises Position in NewtekOne, Inc. (NASDAQ:NEWT)

Fmr LLC grew its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 253.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,559 shares of the business services provider’s stock after purchasing an additional 1,835 shares during the quarter. Fmr LLC’s holdings in NewtekOne were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in NewtekOne by 1,146.0% in the 3rd quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock worth $761,000 after purchasing an additional 56,154 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after buying an additional 180,468 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of NewtekOne in the 2nd quarter worth approximately $506,000. AQR Capital Management LLC bought a new position in shares of NewtekOne in the second quarter valued at approximately $403,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of NewtekOne by 245.1% during the third 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 acquiring an additional 64,790 shares during the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NEWT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th. Piper Sandler lifted their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, B. Riley increased their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th.

Insider Buying and Selling

In related news, CEO Barry Sloane bought 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average cost of $14.75 per share, with a total value of $44,250.00. Following the completion of the purchase, the chief executive officer now owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. The trade was a 0.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 8,750 shares of company stock worth $119,568 in the last three months. 6.50% of the stock is owned by corporate insiders.

NewtekOne Price Performance

Shares of NewtekOne stock opened at $13.20 on Thursday. The firm has a market capitalization of $347.23 million, a PE ratio of 7.37 and a beta of 1.30. 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, Inc. has a 12 month low of $10.07 and a 12 month high of $15.49. The business’s 50-day moving average price is $13.83 and its 200-day moving average price is $13.08.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The company had revenue of $83.12 million for the quarter, compared to the consensus estimate of $61.76 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Sell-side analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date is Tuesday, December 31st. NewtekOne’s dividend payout ratio is presently 42.46%.

NewtekOne Profile

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.