Fmr LLC Purchases 1,835 Shares of NewtekOne, Inc. (NASDAQ:NEWT)

Fmr LLC boosted its position in NewtekOne, Inc. (NASDAQ:NEWT) by 253.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,559 shares of the business services provider’s stock after acquiring an additional 1,835 shares during the period. Fmr LLC’s holdings in NewtekOne were worth $32,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEWT. Marshall Wace LLP raised its position in shares of NewtekOne by 200.3% during the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after acquiring an additional 180,468 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of NewtekOne by 245.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock worth $1,137,000 after purchasing an additional 64,790 shares during the period. International Assets Investment Management LLC increased its holdings in NewtekOne by 1,146.0% in the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock valued at $761,000 after purchasing an additional 56,154 shares during the last quarter. American Century Companies Inc. increased its holdings in NewtekOne by 27.2% in the second quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock valued at $2,397,000 after purchasing an additional 40,738 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in NewtekOne in the second quarter valued at about $506,000. 38.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average price of $14.75 per share, with a total value of $44,250.00. Following the completion of the purchase, the chief executive officer now owns 1,161,855 shares of the company’s stock, valued at approximately $17,137,361.25. The trade was a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders bought 8,750 shares of company stock worth $119,568. Insiders own 6.50% of the company’s stock.

NewtekOne Price Performance

Shares of NASDAQ NEWT opened at $13.20 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The business’s 50 day moving average price is $13.83 and its two-hundred day moving average price is $13.08. The company has a market cap of $347.23 million, a PE ratio of 7.37 and a beta of 1.30. NewtekOne, Inc. has a twelve month low of $10.07 and a twelve month high of $15.49.

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

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 5.76%. NewtekOne’s dividend payout ratio (DPR) is presently 42.46%.

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.