Quest Partners LLC Reduces Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Quest Partners LLC trimmed its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 67.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,130 shares of the business services provider’s stock after selling 27,424 shares during the period. Quest Partners LLC owned approximately 0.05% of NewtekOne worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEWT. International Assets Investment Management LLC purchased a new position in shares of NewtekOne in the second quarter valued at $62,000. Cape Investment Advisory Inc. purchased a new position in NewtekOne during the 4th quarter valued at about $89,000. Kinloch Capital LLC purchased a new stake in shares of NewtekOne in the first quarter worth about $148,000. Jump Financial LLC bought a new position in shares of NewtekOne in the fourth quarter valued at approximately $155,000. Finally, BNP Paribas Financial Markets grew its stake in NewtekOne by 124.5% during the first quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 7,961 shares in the last quarter. Institutional investors own 38.35% of the company’s stock.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane acquired 6,649 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $12.13 per share, with a total value of $80,652.37. Following the purchase, the chief executive officer now owns 1,147,323 shares of the company’s stock, valued at $13,917,027.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley cut shares of NewtekOne from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th.

NewtekOne Stock Performance

Shares of NEWT opened at $11.24 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96. The stock has a 50-day moving average price of $12.88 and a 200-day moving average price of $12.33. The company has a market cap of $278.01 million, a PE ratio of 7.25 and a beta of 1.30. NewtekOne, Inc. has a 12-month low of $10.07 and a 12-month high of $16.87.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. The firm had revenue of $81.37 million for the quarter, compared to analyst estimates of $59.68 million. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, equities analysts forecast that NewtekOne, Inc. will post 1.9 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend was Tuesday, July 9th. NewtekOne’s payout ratio is currently 49.03%.

About NewtekOne

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.