Russell Investments Group Ltd. Purchases 6,053 Shares of NewtekOne, Inc. $NEWT

Russell Investments Group Ltd. lifted its position in NewtekOne, Inc. (NASDAQ:NEWT) by 14.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,432 shares of the business services provider’s stock after acquiring an additional 6,053 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of NewtekOne worth $579,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in NewtekOne during the 1st quarter valued at $758,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in NewtekOne by 37.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,982 shares of the business services provider’s stock worth $1,901,000 after purchasing an additional 43,161 shares during the period. XTX Topco Ltd bought a new stake in shares of NewtekOne during the first quarter worth $126,000. Royce & Associates LP boosted its stake in shares of NewtekOne by 16.2% during the first quarter. Royce & Associates LP now owns 520,035 shares of the business services provider’s stock valued at $6,220,000 after purchasing an additional 72,574 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of NewtekOne in the first quarter worth about $244,000. 38.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEWT has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of NewtekOne from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Friday, July 11th. Piper Sandler lifted their price target on shares of NewtekOne from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.00.

NewtekOne Price Performance

Shares of NEWT opened at $12.37 on Friday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50 day moving average price of $11.69 and a 200-day moving average price of $11.42. NewtekOne, Inc. has a fifty-two week low of $9.12 and a fifty-two week high of $15.49. The stock has a market capitalization of $325.58 million, a PE ratio of 6.15 and a beta of 1.22.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $70.20 million for the quarter, compared to the consensus estimate of $73.88 million. NewtekOne had a return on equity of 19.16% and a net margin of 14.65%. NewtekOne has set its FY 2025 guidance at 2.100-2.500 EPS. Equities analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Wednesday, July 9th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.1%. NewtekOne’s dividend payout ratio (DPR) is currently 37.81%.

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.