Wellington Management Group LLP Invests $1.90 Million in NewtekOne, Inc. (NASDAQ:NEWT)

Wellington Management Group LLP purchased a new stake in NewtekOne, Inc. (NASDAQ:NEWT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 152,638 shares of the business services provider’s stock, valued at approximately $1,902,000. Wellington Management Group LLP owned 0.58% of NewtekOne at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of NewtekOne by 1.0% in the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after purchasing an additional 4,595 shares during the period. Paloma Partners Management Co bought a new position in NewtekOne in the 3rd quarter valued at about $197,000. BNP Paribas Financial Markets lifted its position in NewtekOne by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock worth $173,000 after acquiring an additional 3,094 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of NewtekOne in the third quarter valued at approximately $197,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NEWT. B. Riley downgraded NewtekOne from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $13.00 in a research note on Wednesday, September 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 target price (up previously from $13.00) on shares of NewtekOne in a research report on Friday, November 8th. Finally, Piper Sandler upped their price target 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.

NewtekOne Trading Down 4.1 %

Shares of NEWT stock opened at $12.65 on Thursday. The stock has a 50 day simple moving average of $13.83 and a 200 day simple moving average of $13.09. NewtekOne, Inc. has a 1 year low of $10.07 and a 1 year high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a market cap of $332.82 million, a P/E ratio of 7.07 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last released its 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. The company had revenue of $83.12 million for the quarter, compared to analyst estimates of $61.76 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. During the same period in the prior year, the firm posted $0.38 EPS. On average, research analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Tuesday, December 31st. NewtekOne’s payout ratio is presently 42.46%.

Insider Transactions at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were bought at an average price 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 in the company, valued at approximately $17,137,361.25. This trade represents a 0.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders bought 44,634 shares of company stock valued at $535,640. Company insiders own 6.50% of the company’s stock.

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.