Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in NewtekOne, Inc. $NEWT

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in NewtekOne, Inc. by 37.3%, acquiring a total of 158,982 shares valued at approximately $1.9 million.
• CEO Barry Sloane purchased 10,000 shares at $10.86 per share, bolstering his ownership to about 1.2 million shares worth around $13 million.
• NewtekOne reported $0.52 EPS for the last quarter, exceeding estimates, but had revenue below forecasts, leading analysts to anticipate a 1.93 EPS for the current fiscal year.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 37.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,982 shares of the business services provider's stock after buying an additional 43,161 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.60% of NewtekOne worth $1,901,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NEWT. Segall Bryant & Hamill LLC bought a new stake in shares of NewtekOne during the 1st quarter valued at $1,877,000. JPMorgan Chase & Co. boosted its holdings in shares of NewtekOne by 308.9% during the 4th quarter. JPMorgan Chase & Co. now owns 139,517 shares of the business services provider's stock valued at $1,782,000 after buying an additional 105,397 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of NewtekOne by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider's stock valued at $3,239,000 after buying an additional 100,989 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of NewtekOne during the 4th quarter valued at $1,125,000. Finally, Royce & Associates LP boosted its holdings in shares of NewtekOne by 16.2% during the 1st quarter. Royce & Associates LP now owns 520,035 shares of the business services provider's stock valued at $6,220,000 after buying an additional 72,574 shares in the last quarter. Institutional investors own 38.35% of the company's stock.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane bought 10,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was acquired at an average price of $10.86 per share, with a total value of $108,600.00. Following the transaction, the chief executive officer owned 1,200,459 shares in the company, valued at $13,036,984.74. This represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 14,600 shares of company stock valued at $158,519. 6.70% of the stock is currently owned by insiders.

NewtekOne Stock Up 0.1%

NewtekOne stock traded up $0.01 during mid-day trading on Thursday, reaching $12.03. The stock had a trading volume of 177,352 shares, compared to its average volume of 252,450. NewtekOne, Inc. has a one year low of $9.12 and a one year high of $15.49. The company has a 50-day moving average price of $11.46 and a two-hundred day moving average price of $11.45. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $316.63 million, a price-to-earnings ratio of 5.99 and a beta of 1.22.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. NewtekOne had a return on equity of 19.16% and a net margin of 14.65%.The business had revenue of $70.20 million during the quarter, compared to analyst estimates of $73.88 million. NewtekOne has set its FY 2025 guidance at 2.100-2.500 EPS. On average, analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Wednesday, July 9th were given 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 yield of 6.3%. NewtekOne's payout ratio is 37.81%.

Wall Street Analysts Forecast Growth

NEWT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of NewtekOne from $13.00 to $12.00 and set a "market perform" rating on the stock in a research note on Friday, July 11th. Piper Sandler upped their price target on shares of NewtekOne from $11.50 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, NewtekOne presently has a consensus rating of "Hold" and a consensus target price of $13.00.

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.