North Reef Capital Management LP Sells 187,969 Shares of NewtekOne, Inc. $NEWT

Key Points

• North Reef Capital Management reduced its NewtekOne stake by 48.6% in the first quarter, selling 187,969 shares and leaving it with 198,954 shares worth about $2.18 million.
• NewtekOne reported better-than-expected revenue of $88.18 million in its latest quarter while matching EPS estimates at $0.43, and it reaffirmed FY 2027 guidance of 2.400-2.800 EPS.
• The company also paid a quarterly dividend of $0.19 per share, implying an annualized yield of 5.3%, while analysts currently rate the stock a “Moderate Buy” with an average target price of $15.00.

North Reef Capital Management LP cut its position in shares of NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 48.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,954 shares of the business services provider's stock after selling 187,969 shares during the quarter. North Reef Capital Management LP owned about 0.69% of NewtekOne worth $2,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patriot Financial Partners GP II L.P. purchased a new position in NewtekOne during the third quarter valued at $26,423,000. Price T Rowe Associates Inc. MD grew its position in shares of NewtekOne by 1,987.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 357,106 shares of the business services provider's stock worth $4,054,000 after buying an additional 340,000 shares during the period. Goldman Sachs Group Inc. grew its position in shares of NewtekOne by 119.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 549,239 shares of the business services provider's stock worth $6,234,000 after buying an additional 298,830 shares during the period. AQR Capital Management LLC increased its stake in shares of NewtekOne by 111.5% in the 2nd quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider's stock worth $4,014,000 after acquiring an additional 187,578 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of 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 acquiring an additional 187,103 shares in the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on NEWT shares. Weiss Ratings raised NewtekOne from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 13th. Raymond James Financial upgraded NewtekOne to a "hold" rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods lifted their price target on NewtekOne from $12.00 to $13.00 and gave the stock a "market perform" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $15.00.

NewtekOne Trading Up 0.8%

NewtekOne stock opened at $14.43 on Friday. The company has a debt-to-equity ratio of 6.76, a current ratio of 0.64 and a quick ratio of 0.64. NewtekOne, Inc. has a one year low of $9.59 and a one year high of $15.69. The stock has a market capitalization of $416.88 million, a PE ratio of 6.36 and a beta of 1.27. The business's fifty day moving average is $14.08 and its 200 day moving average is $13.18.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. NewtekOne had a return on equity of 19.00% and a net margin of 16.15%.The company had revenue of $88.18 million during the quarter, compared to the consensus estimate of $75.77 million. NewtekOne has set its FY 2027 guidance at 2.400-2.800 EPS. On average, sell-side analysts predict that NewtekOne, Inc. will post 2.36 EPS for the current year.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 24th were paid a $0.19 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.3%. NewtekOne's payout ratio is currently 33.48%.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane acquired 5,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,181,914 shares of the company's stock, valued at approximately $16,783,178.80. This trade represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 20,567 shares of company stock valued at $288,496 in the last three months. Insiders own 5.90% of the company's stock.

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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