Raymond James Financial Inc. Acquires New Stake in NewtekOne, Inc. (NASDAQ:NEWT)

Raymond James Financial Inc. purchased a new stake in shares of NewtekOne, Inc. (NASDAQ:NEWT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 88,124 shares of the business services provider's stock, valued at approximately $1,125,000. Raymond James Financial Inc. owned 0.33% of NewtekOne as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEWT. FMR LLC lifted its stake in shares of NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider's stock valued at $32,000 after acquiring an additional 1,835 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in NewtekOne by 137.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider's stock worth $56,000 after purchasing an additional 2,500 shares during the period. BNP Paribas Financial Markets lifted its position in NewtekOne by 28.7% in the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider's stock valued at $173,000 after purchasing an additional 3,094 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of NewtekOne by 39.0% during the fourth quarter. SG Americas Securities LLC now owns 11,274 shares of the business services provider's stock valued at $144,000 after purchasing an additional 3,166 shares during the period. Finally, State Street Corp grew its holdings in shares of NewtekOne by 1.0% in the third quarter. State Street Corp now owns 474,419 shares of the business services provider's stock worth $5,911,000 after purchasing an additional 4,595 shares during the last quarter. 38.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on NEWT shares. B. Riley upped their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Compass Point boosted 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. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, NewtekOne currently has a consensus rating of "Hold" and a consensus target price of $14.50.

NewtekOne Trading Down 0.5 %

Shares of NewtekOne stock traded down $0.05 during midday trading on Tuesday, reaching $9.82. 415,058 shares of the company's stock traded hands, compared to its average volume of 171,457. The stock has a 50 day moving average of $12.31 and a 200-day moving average of $12.95. NewtekOne, Inc. has a 12 month low of $9.12 and a 12 month high of $15.49. The company has a market cap of $258.18 million, a PE ratio of 5.49 and a beta of 1.23. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $75.37 million during the quarter, compared to analyst estimates of $69.55 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. As a group, equities analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.74%. NewtekOne's dividend payout ratio (DPR) is 38.97%.

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.