Cambridge Investment Research Advisors Inc. Raises Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Cambridge Investment Research Advisors Inc. boosted its position in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,780 shares of the business services provider’s stock after purchasing an additional 980 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in NewtekOne were worth $153,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of NewtekOne by 116.6% in the 4th quarter. American Century Companies Inc. now owns 112,400 shares of the business services provider’s stock valued at $1,435,000 after acquiring an additional 60,518 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of NewtekOne in the 4th quarter valued at approximately $432,000. Nuveen Asset Management LLC raised its stake in shares of NewtekOne by 59.3% in the 4th quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider’s stock valued at $871,000 after acquiring an additional 25,399 shares during the period. Geode Capital Management LLC raised its stake in shares of NewtekOne by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock valued at $7,467,000 after acquiring an additional 10,933 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of NewtekOne by 73.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 105,855 shares of the business services provider’s stock valued at $1,352,000 after acquiring an additional 44,969 shares during the period. 38.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were purchased at an average price of $10.86 per share, with a total value of $108,600.00. Following the completion of the acquisition, the chief executive officer directly owned 1,200,459 shares in the company, valued at approximately $13,036,984.74. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 36,500 shares of company stock worth $406,175. 6.50% of the stock is owned by insiders.

NewtekOne Stock Performance

Shares of NEWT opened at $11.59 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.16. The firm has a market capitalization of $305.28 million, a P/E ratio of 6.04 and a beta of 1.21. The stock’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $11.67. NewtekOne, Inc. has a twelve month low of $9.12 and a twelve month high of $15.49.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. NewtekOne had a return on equity of 18.81% and a net margin of 14.34%. On average, equities research analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.56%. The ex-dividend date is Wednesday, July 9th. NewtekOne’s payout ratio is currently 39.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NEWT shares. Keefe, Bruyette & Woods dropped their price objective on shares of NewtekOne from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Friday. Compass Point lifted their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, March 20th.

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.