Vanguard Group Inc. reduced its stake in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,295,879 shares of the business services provider's stock after selling 76,643 shares during the quarter. Vanguard Group Inc. owned about 5.26% of NewtekOne worth $19,114,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Raymond James & Associates increased its holdings in shares of NewtekOne by 5.0% during the first quarter. Raymond James & Associates now owns 55,788 shares of the business services provider's stock worth $1,490,000 after purchasing an additional 2,679 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NewtekOne by 38.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,392 shares of the business services provider's stock worth $758,000 after purchasing an additional 7,919 shares during the period. MetLife Investment Management LLC increased its holdings in shares of NewtekOne by 137.0% during the first quarter. MetLife Investment Management LLC now owns 7,109 shares of the business services provider's stock worth $190,000 after purchasing an additional 4,109 shares during the period. Mackenzie Financial Corp increased its holdings in shares of NewtekOne by 8.2% during the first quarter. Mackenzie Financial Corp now owns 48,481 shares of the business services provider's stock worth $1,294,000 after purchasing an additional 3,677 shares during the period. Finally, Ancora Advisors LLC bought a new position in shares of NewtekOne during the first quarter worth approximately $137,000. 38.35% of the stock is owned by institutional investors.
NewtekOne Price Performance
Shares of NASDAQ NEWT traded down $0.14 during trading hours on Monday, hitting $11.22. 104,806 shares of the stock were exchanged, compared to its average volume of 145,912. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $277.25 million, a PE ratio of 6.93 and a beta of 1.25. The company's fifty day simple moving average is $11.30 and its two-hundred day simple moving average is $12.85. NewtekOne, Inc. has a 1-year low of $10.07 and a 1-year high of $19.36.
NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The company had revenue of $75.60 million during the quarter, compared to analyst estimates of $62.99 million. During the same quarter in the prior year, the business earned $0.06 EPS. On average, sell-side analysts predict that NewtekOne, Inc. will post 1.83 EPS for the current year.
NewtekOne Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a $0.19 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.76 dividend on an annualized basis and a yield of 6.77%. This is a positive change from NewtekOne's previous quarterly dividend of $0.18. NewtekOne's dividend payout ratio (DPR) is currently 46.91%.
Analyst Upgrades and Downgrades
NEWT has been the topic of several recent research reports. B. Riley reaffirmed a "buy" rating and set a $18.00 target price (down from $19.00) on shares of NewtekOne in a report on Thursday, March 7th. Piper Sandler reduced their price target on shares of NewtekOne from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, March 18th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of NewtekOne from $16.00 to $13.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $14.50.
Read Our Latest Analysis on NEWT
NewtekOne Profile
(
Free Report)
NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.
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