Boston Partners Invests $801,000 in NewtekOne, Inc. $NEWT

Boston Partners purchased a new stake in NewtekOne, Inc. (NASDAQ:NEWT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,050 shares of the business services provider’s stock, valued at approximately $801,000. Boston Partners owned approximately 0.27% of NewtekOne as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of NewtekOne in the first quarter worth approximately $126,000. Connor Clark & Lunn Investment Management Ltd. grew its position in NewtekOne by 37.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,982 shares of the business services provider’s stock valued at $1,901,000 after purchasing an additional 43,161 shares in the last quarter. Nuveen LLC acquired a new position in NewtekOne in the 1st quarter valued at approximately $758,000. Russell Investments Group Ltd. lifted its position in NewtekOne by 14.3% in the 1st quarter. Russell Investments Group Ltd. now owns 48,432 shares of the business services provider’s stock worth $579,000 after buying an additional 6,053 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in NewtekOne in the 1st quarter worth approximately $126,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Analysts Set New Price Targets

NEWT has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $13.00 price target (up from $12.00) on shares of NewtekOne in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, B. Riley began coverage on NewtekOne in a report on Monday, September 15th. They set a “buy” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.25.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane acquired 10,000 shares of NewtekOne stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $10.22 per share, for a total transaction of $102,200.00. Following the completion of the purchase, the chief executive officer owned 1,212,459 shares of the company’s stock, valued at $12,391,330.98. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 6.70% of the stock is currently owned by corporate insiders.

NewtekOne Trading Up 1.6%

NewtekOne stock opened at $10.67 on Monday. NewtekOne, Inc. has a one year low of $9.12 and a one year high of $14.60. The company’s fifty day moving average price is $10.75 and its two-hundred day moving average price is $11.23. The company has a market capitalization of $308.22 million, a price-to-earnings ratio of 4.78 and a beta of 1.23. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $74.94 million during the quarter, compared to the consensus estimate of $78.31 million. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%. On average, analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Tuesday, October 14th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 7.1%. The ex-dividend date was Tuesday, October 14th. NewtekOne’s dividend payout ratio (DPR) is 34.08%.

NewtekOne 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.