Marshall Wace LLP Has $3.33 Million Position in NewtekOne, Inc. (NASDAQ:NEWT)

Marshall Wace LLP reduced its position in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,960 shares of the business services provider's stock after selling 32,723 shares during the period. Marshall Wace LLP owned approximately 0.99% of NewtekOne worth $3,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its stake in NewtekOne by 27.8% in the fourth quarter. Barclays PLC now owns 38,598 shares of the business services provider's stock valued at $492,000 after acquiring an additional 8,397 shares during the period. LSV Asset Management acquired a new stake in shares of NewtekOne during the 4th quarter valued at $294,000. Raymond James Financial Inc. purchased a new position in shares of NewtekOne in the fourth quarter worth approximately $1,125,000. Wells Fargo & Company MN raised its position in NewtekOne by 33.8% during the fourth quarter. Wells Fargo & Company MN now owns 21,568 shares of the business services provider's stock valued at $275,000 after buying an additional 5,444 shares during the period. Finally, Geode Capital Management LLC lifted its position in NewtekOne by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider's stock worth $7,467,000 after buying an additional 10,933 shares in the last quarter. Institutional investors own 38.35% of the company's stock.

NewtekOne Price Performance

Shares of NEWT traded up $0.34 during mid-day trading on Thursday, hitting $10.74. 45,654 shares of the company traded hands, compared to its average volume of 180,724. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The business has a 50-day moving average of $11.46 and a 200 day moving average of $12.72. NewtekOne, Inc. has a one year low of $9.12 and a one year high of $15.49. The stock has a market capitalization of $282.23 million, a price-to-earnings ratio of 5.99 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its earnings results on Wednesday, February 26th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. The company had revenue of $75.37 million during the quarter, compared to the consensus estimate of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. As a group, equities analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Tuesday, April 15th. NewtekOne's dividend payout ratio (DPR) is 38.97%.

Analysts Set New Price Targets

Separately, Compass Point boosted their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $14.50.

About NewtekOne

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.