Geode Capital Management LLC Buys 22,167 Shares of NewtekOne, Inc. (NASDAQ:NEWT)

Geode Capital Management LLC raised its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 573,608 shares of the business services provider’s stock after buying an additional 22,167 shares during the period. Geode Capital Management LLC’s holdings in NewtekOne were worth $7,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its stake in shares of NewtekOne by 285.2% in the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 22,360 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in NewtekOne in the third quarter valued at $367,000. Wellington Management Group LLP acquired a new position in NewtekOne in the third quarter valued at $1,902,000. State Street Corp boosted its position in NewtekOne by 1.0% during the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after acquiring an additional 4,595 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in NewtekOne during the 3rd quarter worth about $197,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane purchased 3,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders acquired 8,750 shares of company stock worth $119,568. 6.50% of the stock is owned by corporate insiders.

NewtekOne Stock Performance

Shares of NEWT opened at $12.84 on Friday. 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 stock has a 50-day moving average of $13.74 and a 200-day moving average of $13.07. The company has a market cap of $337.76 million, a PE ratio of 7.17 and a beta of 1.30. NewtekOne, Inc. has a one year low of $10.07 and a one year high of $15.49.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $83.12 million for the quarter, compared to analyst estimates of $61.76 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, equities research analysts predict that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend is Tuesday, December 31st. NewtekOne’s payout ratio is currently 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.