State Street Corp Grows Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

State Street Corp increased its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 474,419 shares of the business services provider’s stock after purchasing an additional 4,595 shares during the period. State Street Corp’s holdings in NewtekOne were worth $5,911,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. FMR LLC increased its stake in NewtekOne by 253.5% during the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after acquiring an additional 1,835 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of NewtekOne during the second quarter valued at approximately $62,000. nVerses Capital LLC boosted its position in NewtekOne by 96.7% in the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after buying an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in NewtekOne by 36.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in NewtekOne during the 3rd quarter valued at $101,000. 38.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEWT has been the subject of several research reports. B. Riley lifted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Finally, Piper Sandler upped their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the purchase, the chief executive officer now owns 1,161,855 shares of the company’s stock, valued at approximately $17,137,361.25. This represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 8,750 shares of company stock valued at $119,568. Company insiders own 6.50% of the company’s stock.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT opened at $13.01 on Friday. NewtekOne, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The business’s fifty day moving average price is $13.80 and its two-hundred day moving average price is $13.08. The stock has a market capitalization of $342.23 million, a price-to-earnings ratio of 7.27 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, beating 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 business had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, analysts predict that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.84%. The ex-dividend date is Tuesday, December 31st. NewtekOne’s 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.