NewtekOne, Inc. (NASDAQ:NEWT) Sees Significant Growth in Short Interest

NewtekOne, Inc. (NASDAQ:NEWT) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 2,650,000 shares, a growth of 26.2% from the April 30th total of 2,100,000 shares. Based on an average daily volume of 273,200 shares, the days-to-cover ratio is currently 9.7 days. Approximately 10.8% of the company’s stock are short sold.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of NewtekOne from $15.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, May 8th. Compass Point increased their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th.

NewtekOne Price Performance

NASDAQ:NEWT opened at $10.56 on Thursday. NewtekOne has a 52 week low of $9.12 and a 52 week high of $15.49. The firm has a market cap of $278.17 million, a price-to-earnings ratio of 5.90 and a beta of 1.22. The firm’s 50-day simple moving average is $10.68 and its 200 day simple moving average is $12.22. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $66.33 million for the quarter, compared to the consensus estimate of $63.15 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. As a group, sell-side analysts predict that NewtekOne will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.20%. NewtekOne’s payout ratio is currently 39.58%.

Insider Buying and Selling

In other news, CEO Barry Sloane purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were purchased at an average cost of $10.86 per share, with a total value of $108,600.00. Following the completion of the transaction, the chief executive officer now owns 1,200,459 shares of the company’s stock, valued at $13,036,984.74. The trade was a 0.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 35,000 shares of company stock worth $391,635. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NewtekOne

A number of hedge funds have recently made changes to their positions in NEWT. Tower Research Capital LLC TRC boosted its stake in shares of NewtekOne by 199.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 1,703 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of NewtekOne in the 4th quarter valued at approximately $55,000. Aquatic Capital Management LLC boosted its stake in shares of NewtekOne by 66.2% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 2,184 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of NewtekOne in the 1st quarter valued at approximately $123,000. Finally, XTX Topco Ltd acquired a new stake in shares of NewtekOne in the 1st quarter valued at approximately $126,000. 38.35% of the stock is currently owned by institutional investors and hedge funds.

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.