NewtekOne, Inc. (NASDAQ:NEWT) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 94.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,120 shares of the business services provider’s stock after purchasing an additional 16,596 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of NewtekOne worth $425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NEWT. FMR LLC increased its stake in NewtekOne by 253.5% in the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,835 shares during the last quarter. nVerses Capital LLC increased its position in NewtekOne by 96.7% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after purchasing an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after buying an additional 2,002 shares during the period. SG Americas Securities LLC purchased a new stake in NewtekOne during the 3rd quarter worth $101,000. Finally, BNP Paribas Financial Markets raised its position in NewtekOne by 28.7% in the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock valued at $173,000 after purchasing an additional 3,094 shares during the period. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

NewtekOne Price Performance

Shares of NASDAQ NEWT opened at $13.13 on Thursday. The stock has a market cap of $345.45 million, a P/E ratio of 7.34 and a beta of 1.32. The firm’s 50-day simple moving average is $13.35 and its 200 day simple moving average is $13.10. NewtekOne, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. During the same period last year, the firm earned $0.38 EPS. Equities analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.79%. The ex-dividend date was Tuesday, December 31st. NewtekOne’s dividend payout ratio is currently 42.46%.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane bought 3,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $12.95 per share, with a total value of $38,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired 8,750 shares of company stock worth $119,568 over the last ninety days. 6.50% of the stock is currently owned by insiders.

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.