Wellington Management Group LLP Purchases 100,989 Shares of NewtekOne, Inc. (NASDAQ:NEWT)

Wellington Management Group LLP increased its stake in shares of NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 66.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,627 shares of the business services provider's stock after purchasing an additional 100,989 shares during the quarter. Wellington Management Group LLP owned about 0.96% of NewtekOne worth $3,239,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NEWT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NewtekOne by 8.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider's stock worth $176,000 after purchasing an additional 1,081 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of NewtekOne by 199.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider's stock valued at $33,000 after purchasing an additional 1,703 shares during the last quarter. Aquatic Capital Management LLC grew its position in shares of NewtekOne by 66.2% during the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider's stock worth $70,000 after buying an additional 2,184 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of NewtekOne by 22.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,115 shares of the business services provider's stock worth $181,000 after buying an additional 2,633 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in NewtekOne by 39.0% in the fourth quarter. SG Americas Securities LLC now owns 11,274 shares of the business services provider's stock valued at $144,000 after buying an additional 3,166 shares during the period. 38.35% of the stock is currently owned by institutional investors.

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane bought 10,000 shares of NewtekOne stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average cost of $11.23 per share, with a total value of $112,300.00. Following the purchase, the chief executive officer now owns 1,190,459 shares in the company, valued at approximately $13,368,854.57. This trade represents a 0.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 35,000 shares of company stock valued at $391,635 over the last quarter. Corporate insiders own 6.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of NewtekOne from $15.00 to $13.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. Compass Point increased their target price on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th.

NewtekOne Trading Up 1.9%

NEWT traded up $0.20 during mid-day trading on Friday, hitting $10.77. The stock had a trading volume of 195,549 shares, compared to its average volume of 192,297. The stock's fifty day simple moving average is $10.62 and its 200-day simple moving average is $12.18. The firm has a market capitalization of $283.70 million, a price-to-earnings ratio of 6.02 and a beta of 1.22. NewtekOne, Inc. has a 1-year low of $9.12 and a 1-year high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $66.33 million for the quarter, compared to the consensus estimate of $63.15 million. As a group, research analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Tuesday, April 15th. NewtekOne's dividend payout ratio (DPR) is presently 39.58%.

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.