Nuveen Asset Management LLC raised its stake in shares of NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 59.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 68,230 shares of the business services provider's stock after buying an additional 25,399 shares during the period. Nuveen Asset Management LLC owned about 0.26% of NewtekOne worth $871,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in NewtekOne by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider's stock worth $3,563,000 after acquiring an additional 113,261 shares during the period. JPMorgan Chase & Co. boosted its position in NewtekOne by 308.9% in the 4th quarter. JPMorgan Chase & Co. now owns 139,517 shares of the business services provider's stock worth $1,782,000 after purchasing an additional 105,397 shares in the last quarter. Wellington Management Group LLP grew its stake 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 worth $3,239,000 after purchasing an additional 100,989 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NewtekOne during the 4th quarter worth approximately $1,125,000. Finally, American Century Companies Inc. increased its holdings in shares of NewtekOne by 116.6% during the 4th quarter. American Century Companies Inc. now owns 112,400 shares of the business services provider's stock valued at $1,435,000 after purchasing an additional 60,518 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on NEWT shares. Keefe, Bruyette & Woods lowered their price target on shares of NewtekOne from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Compass Point increased their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th.
Read Our Latest Report on NEWT
NewtekOne Price Performance
Shares of NewtekOne stock traded up $0.20 on Friday, reaching $10.77. The company's stock had a trading volume of 195,549 shares, compared to its average volume of 192,297. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The company has a market capitalization of $283.70 million, a P/E ratio of 6.02 and a beta of 1.22. The stock has a 50-day moving average price of $10.62 and a 200-day moving average price of $12.18. NewtekOne, Inc. has a 52-week low of $9.12 and a 52-week high of $15.49.
NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The firm had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. Analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.
NewtekOne Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.76 annualized dividend and a yield of 7.06%. NewtekOne's dividend payout ratio (DPR) is presently 39.58%.
Insider Activity at NewtekOne
In related news, CEO Barry Sloane purchased 10,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was acquired at an average cost of $11.23 per share, for a total transaction of $112,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,190,459 shares of the company's stock, valued at approximately $13,368,854.57. This trade represents a 0.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders acquired 35,000 shares of company stock valued at $391,635. Corporate insiders own 6.50% of the company's stock.
NewtekOne Profile
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Free Report)
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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