Bank of New York Mellon Corp Purchases 6,640 Shares of NewtekOne, Inc. (NASDAQ:NEWT)

Bank of New York Mellon Corp boosted its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 3.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 184,053 shares of the business services provider’s stock after acquiring an additional 6,640 shares during the period. Bank of New York Mellon Corp owned 0.74% of NewtekOne worth $2,314,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NEWT. Cape Investment Advisory Inc. acquired a new position in shares of NewtekOne during the fourth quarter worth about $89,000. Kinloch Capital LLC bought a new position in NewtekOne during the 1st quarter worth $148,000. Jump Financial LLC bought a new position in shares of NewtekOne in the fourth quarter worth $155,000. BNP Paribas Financial Markets raised its position in shares of NewtekOne by 124.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after buying an additional 7,961 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in NewtekOne by 2.9% during the first quarter. Arkadios Wealth Advisors now owns 47,279 shares of the business services provider’s stock valued at $520,000 after purchasing an additional 1,344 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

NewtekOne Price Performance

NASDAQ:NEWT opened at $11.24 on Tuesday. The company has a market cap of $278.01 million, a PE ratio of 7.25 and a beta of 1.30. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. NewtekOne, Inc. has a one year low of $10.07 and a one year high of $16.30. The firm’s 50 day simple moving average is $12.85 and its 200 day simple moving average is $12.33.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $81.37 million for the quarter, compared to the consensus estimate of $59.68 million. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. During the same period in the previous year, the business earned $0.26 EPS. On average, research analysts anticipate that NewtekOne, Inc. will post 1.9 earnings per share for the current year.

NewtekOne Announces Dividend

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

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane acquired 6,649 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $12.13 per share, with a total value of $80,652.37. Following the completion of the purchase, the chief executive officer now owns 1,147,323 shares of the company’s stock, valued at $13,917,027.99. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley downgraded 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 Company 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.