Bank of New York Mellon Corp Boosts Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Bank of New York Mellon Corp grew its stake in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 68.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,001 shares of the business services provider’s stock after buying an additional 113,261 shares during the period. Bank of New York Mellon Corp’s holdings in NewtekOne were worth $3,563,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in NewtekOne in the 3rd quarter worth approximately $1,902,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of NewtekOne by 245.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock worth $1,137,000 after acquiring an additional 64,790 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of NewtekOne during the 3rd quarter worth approximately $367,000. Barclays PLC raised its holdings in shares of NewtekOne by 285.2% during the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock worth $376,000 after acquiring an additional 22,360 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of NewtekOne by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider’s stock worth $7,149,000 after acquiring an additional 22,167 shares in the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

NewtekOne Stock Performance

NASDAQ NEWT opened at $12.51 on Thursday. The company has a market cap of $329.08 million, a P/E ratio of 6.99 and a beta of 1.33. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50 day moving average price is $12.70 and its 200-day moving average price is $12.95. NewtekOne, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.49.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The company had revenue of $75.37 million for the quarter, compared to the consensus estimate of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. Sell-side analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. This trade represents a 0.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 4,750 shares of company stock worth $61,368. 6.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

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.