State Street Corp Purchases 4,595 Shares of NewtekOne, Inc. (NASDAQ:NEWT)

State Street Corp grew its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 474,419 shares of the business services provider’s stock after acquiring an additional 4,595 shares during the period. State Street Corp owned about 1.80% of NewtekOne worth $5,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC increased its holdings in NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 1,835 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of NewtekOne in the second quarter worth approximately $62,000. nVerses Capital LLC lifted its holdings in NewtekOne by 96.7% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after buying an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of NewtekOne by 36.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after buying an additional 2,002 shares during the period. Finally, SG Americas Securities LLC bought a new stake in NewtekOne during the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at NewtekOne

In other news, CEO Barry Sloane acquired 3,000 shares of NewtekOne stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 8,750 shares of company stock worth $119,568 in the last 90 days. 6.50% of the stock is owned by insiders.

NewtekOne Price Performance

Shares of NEWT stock opened at $13.01 on Friday. NewtekOne, Inc. has a 12 month low of $10.07 and a 12 month high of $15.49. The firm’s 50-day moving average is $13.80 and its two-hundred day moving average is $13.08. The company has a market capitalization of $342.23 million, a PE ratio of 7.27 and a beta of 1.30. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

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

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.84%. NewtekOne’s dividend payout ratio (DPR) is presently 42.46%.

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.