NewtekOne, Inc. (NASDAQ:NEWT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

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. raised its holdings in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 37.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,982 shares of the business services provider's stock after acquiring an additional 43,161 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.60% of NewtekOne worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of NEWT. JPMorgan Chase & Co. lifted its holdings in NewtekOne by 308.9% in the 4th quarter. JPMorgan Chase & Co. now owns 139,517 shares of the business services provider's stock valued at $1,782,000 after acquiring an additional 105,397 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of NewtekOne by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider's stock valued at $7,467,000 after purchasing an additional 10,933 shares during the period. Wells Fargo & Company MN boosted its position in shares of NewtekOne by 33.8% in the 4th quarter. Wells Fargo & Company MN now owns 21,568 shares of the business services provider's stock valued at $275,000 after purchasing an additional 5,444 shares during the period. Raymond James Financial Inc. acquired a new position in shares of NewtekOne in the 4th quarter valued at $1,125,000. Finally, Barclays PLC boosted its position in shares of NewtekOne by 27.8% in the 4th quarter. Barclays PLC now owns 38,598 shares of the business services provider's stock valued at $492,000 after purchasing an additional 8,397 shares during the period. 38.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane purchased 10,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was bought at an average cost of $10.86 per share, with a total value of $108,600.00. Following the purchase, the chief executive officer directly owned 1,200,459 shares of the company's stock, valued at approximately $13,036,984.74. This trade represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders bought 24,600 shares of company stock valued at $270,819. 6.70% of the stock is currently owned by corporate insiders.

NewtekOne Stock Down 0.5%

Shares of NewtekOne stock opened at $12.03 on Friday. The stock has a 50-day moving average price of $11.37 and a 200 day moving average price of $11.48. The company has a market cap of $316.63 million, a P/E ratio of 5.99 and a beta of 1.22. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 5.95. NewtekOne, Inc. has a 1 year low of $9.12 and a 1 year high of $15.49.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $70.20 million during the quarter, compared to the consensus estimate of $73.88 million. NewtekOne had a return on equity of 19.16% and a net margin of 14.65%. As a group, analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Wednesday, July 9th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Wednesday, July 9th. NewtekOne's dividend payout ratio is currently 37.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEWT. Piper Sandler increased their price target on NewtekOne from $11.50 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods decreased their price target on NewtekOne from $13.00 to $12.00 and set a "market perform" rating for the company in a research report on Friday, July 11th.

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.

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