Barclays PLC Increases Position in NewtekOne, Inc. (NASDAQ:NEWT)

Barclays PLC lifted its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 285.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,201 shares of the business services provider’s stock after buying an additional 22,360 shares during the period. Barclays PLC owned approximately 0.11% of NewtekOne worth $376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEWT. Marshall Wace LLP increased its holdings in shares of NewtekOne by 200.3% in the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after purchasing an additional 180,468 shares during the period. Wellington Management Group LLP acquired a new stake in shares of NewtekOne during the third quarter worth $1,902,000. Connor Clark & Lunn Investment Management Ltd. grew its position in NewtekOne by 245.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock valued at $1,137,000 after buying an additional 64,790 shares during the last quarter. International Assets Investment Management LLC increased its stake in NewtekOne by 1,146.0% in the 3rd quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock valued at $761,000 after buying an additional 56,154 shares during the period. Finally, American Century Companies Inc. raised its position in NewtekOne by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock worth $2,397,000 after buying an additional 40,738 shares during the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Stock Performance

NASDAQ:NEWT opened at $13.02 on Friday. The firm’s fifty day simple moving average is $13.55 and its 200-day simple moving average is $13.09. 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 stock has a market cap of $342.56 million, a PE ratio of 7.27 and a beta of 1.32. NewtekOne, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.49.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $61.76 million. During the same period in the prior year, the business posted $0.38 earnings per share. Analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 5.84%. NewtekOne’s dividend payout ratio is presently 42.46%.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane bought 3,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was bought 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 owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. The trade was a 0.26 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have bought 8,750 shares of company stock worth $119,568. 6.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 11th. B. Riley lifted 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.

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.