Bank of New York Mellon Corp Acquires New Holdings in NewtekOne, Inc. $NEWT

Key Points

• Institutional interest increased: Bank of New York Mellon acquired 152,841 NewtekOne shares worth approximately $2.26 million, while several other major investors also expanded their positions. Institutional investors own 38.35% of the company.
• Insider buying and dividend support the stock: CEO Barry Sloane purchased 11,000 shares, bringing insider ownership to 5.90%. NewtekOne pays a quarterly dividend of $0.19 per share, representing a 6.1% annualized yield.
• Analyst sentiment remains mixed: NewtekOne reported quarterly revenue of $90.05 million and earnings of $0.47 per share, while analysts maintain an average “Hold” rating with a $16.33 price target. The stock recently traded at $12.44, below its 50-day moving average.

Bank of New York Mellon Corp acquired a new position in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 152,841 shares of the business services provider's stock, valued at approximately $2,264,000. Bank of New York Mellon Corp owned about 0.53% of NewtekOne at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Patriot Financial Partners GP II L.P. acquired a new stake in shares of NewtekOne in the third quarter valued at about $26,423,000. Price T Rowe Associates Inc. MD boosted its stake in NewtekOne by 1,987.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 357,106 shares of the business services provider's stock valued at $4,054,000 after purchasing an additional 340,000 shares during the period. Goldman Sachs Group Inc. grew its holdings in NewtekOne by 119.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider's stock valued at $6,234,000 after buying an additional 298,830 shares during the last quarter. AQR Capital Management LLC grew its holdings in NewtekOne by 111.5% in the 2nd quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider's stock valued at $4,014,000 after buying an additional 187,578 shares during the last quarter. Finally, Marshall Wace LLP increased its position in NewtekOne by 42.9% in the 2nd quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider's stock worth $7,034,000 after buying an additional 187,103 shares during the period. 38.35% of the stock is owned by institutional investors.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane purchased 11,000 shares of the stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $14.21 per share, for a total transaction of $156,310.00. Following the completion of the transaction, the chief executive officer directly owned 1,176,914 shares of the company's stock, valued at approximately $16,723,947.94. The trade was a 0.94% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders purchased 16,500 shares of company stock worth $234,265. 5.90% of the stock is owned by company insiders.

NewtekOne Price Performance

NASDAQ:NEWT opened at $12.44 on Tuesday. The company has a 50-day moving average of $13.77 and a 200-day moving average of $13.12. The company has a market capitalization of $359.39 million, a price-to-earnings ratio of 5.60 and a beta of 1.27. NewtekOne, Inc. has a 52 week low of $9.59 and a 52 week high of $15.69. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.65 and a current ratio of 0.65.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. The business had revenue of $90.05 million for the quarter, compared to analyst estimates of $75.00 million. As a group, equities research analysts anticipate that NewtekOne, Inc. will post 1.75 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 24th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Wednesday, June 24th. NewtekOne's dividend payout ratio (DPR) is 34.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEWT shares. Weiss Ratings cut NewtekOne from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Raymond James Financial upgraded shares of NewtekOne to a "hold" rating in a report on Wednesday, July 1st. B. Riley Financial cut their price objective on shares of NewtekOne from $25.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, August 31st. Wall Street Zen lowered NewtekOne from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Piper Sandler boosted their price target on NewtekOne from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.33.

NewtekOne Profile

NewtekOne, Inc NASDAQ: NEWT is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company's core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.

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