Corton Capital Inc. Takes Position in NewtekOne, Inc. (NASDAQ:NEWT)

Corton Capital Inc. purchased a new stake in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,057 shares of the business services provider's stock, valued at approximately $346,000. Corton Capital Inc. owned about 0.10% of NewtekOne as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NEWT. Cubist Systematic Strategies LLC raised its position in shares of NewtekOne by 328.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 49,516 shares of the business services provider's stock worth $632,000 after purchasing an additional 37,968 shares during the period. Bank of America Corp DE raised its position in shares of NewtekOne by 31.2% during the 4th quarter. Bank of America Corp DE now owns 71,039 shares of the business services provider's stock worth $907,000 after purchasing an additional 16,913 shares during the period. Jane Street Group LLC raised its position in shares of NewtekOne by 25.6% during the 4th quarter. Jane Street Group LLC now owns 29,402 shares of the business services provider's stock worth $375,000 after purchasing an additional 5,986 shares during the period. Northern Trust Corp raised its position in shares of NewtekOne by 9.6% during the 4th quarter. Northern Trust Corp now owns 210,102 shares of the business services provider's stock worth $2,683,000 after purchasing an additional 18,407 shares during the period. Finally, Tudor Investment Corp ET AL raised its position in shares of NewtekOne by 24.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 108,516 shares of the business services provider's stock worth $1,386,000 after purchasing an additional 21,437 shares during the period. Institutional investors own 38.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NEWT. Compass Point raised their target price on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Keefe, Bruyette & Woods decreased their target price on NewtekOne from $15.00 to $13.00 and set a "market perform" rating for the company in a research report on Thursday.

NewtekOne Stock Up 5.9%

Shares of NASDAQ:NEWT traded up $0.61 during midday trading on Monday, hitting $10.99. 206,921 shares of the stock were exchanged, compared to its average volume of 229,792. NewtekOne, Inc. has a 52-week low of $9.12 and a 52-week high of $15.49. The business's fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $12.55. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $288.94 million, a PE ratio of 6.14 and a beta of 1.26.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. As a group, research analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date was Tuesday, April 15th. NewtekOne's dividend payout ratio (DPR) is presently 39.58%.

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.