Royce & Associates LP Trims Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Royce & Associates LP decreased its position in NewtekOne, Inc. (NASDAQ:NEWT) by 42.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 751,292 shares of the business services provider’s stock after selling 548,506 shares during the period. Royce & Associates LP owned 2.89% of NewtekOne worth $9,361,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NEWT. International Assets Investment Management LLC acquired a new position in NewtekOne in the second quarter valued at approximately $62,000. nVerses Capital LLC lifted its stake in shares of NewtekOne by 96.7% in the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of NewtekOne by 36.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares during the period. SG Americas Securities LLC acquired a new stake in shares of NewtekOne during the 3rd quarter worth about $101,000. Finally, Kinloch Capital LLC purchased a new stake in NewtekOne in the 1st quarter valued at about $148,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane bought 40,134 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the completion of the purchase, the chief executive officer now owns 1,187,457 shares of the company’s stock, valued at approximately $13,952,619.75. This represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 41,634 shares of company stock worth $488,820. Company insiders own 6.50% of the company’s stock.

NewtekOne Stock Performance

NASDAQ NEWT opened at $14.06 on Monday. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 1.42. The company has a market cap of $369.92 million, a P/E ratio of 7.85 and a beta of 1.29. The stock has a 50-day moving average of $12.84 and a two-hundred day moving average of $12.90. NewtekOne, Inc. has a 1-year low of $10.07 and a 1-year high of $15.49.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $83.12 million during the quarter, compared to analysts’ expectations 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 business posted $0.38 earnings per share. As a group, analysts anticipate that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Thursday, October 10th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne’s payout ratio is currently 42.46%.

Analysts Set New Price Targets

Several brokerages have weighed in on NEWT. B. Riley lowered shares of NewtekOne from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th. Piper Sandler increased their price objective 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. Finally, 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.

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.