NewtekOne, Inc. (NASDAQ:NEWT) Short Interest Up 21.5% in April

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,810,000 shares, a growth of 21.5% from the March 31st total of 1,490,000 shares. Approximately 7.4% of the company's stock are short sold. Based on an average daily trading volume, of 224,100 shares, the short-interest ratio is presently 8.1 days.

Hedge Funds Weigh In On NewtekOne

Several large investors have recently bought and sold shares of NEWT. Geode Capital Management LLC boosted its holdings in shares of NewtekOne by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider's stock valued at $7,467,000 after acquiring an additional 10,933 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of NewtekOne by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider's stock valued at $3,563,000 after purchasing an additional 113,261 shares during the period. Wellington Management Group LLP raised its stake in shares of NewtekOne by 66.2% in the 4th quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider's stock worth $3,239,000 after buying an additional 100,989 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of NewtekOne by 9.6% in the fourth quarter. Northern Trust Corp now owns 210,102 shares of the business services provider's stock valued at $2,683,000 after buying an additional 18,407 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in NewtekOne during the first quarter valued at about $1,877,000. Institutional investors and hedge funds own 38.35% of the company's stock.

Wall Street Analyst Weigh In

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

NewtekOne Stock Performance

Shares of NASDAQ NEWT traded down $0.24 during midday trading on Tuesday, hitting $9.60. The company's stock had a trading volume of 102,358 shares, compared to its average volume of 184,806. The firm has a market cap of $252.39 million, a P/E ratio of 5.36 and a beta of 1.26. The firm's fifty day moving average price is $11.34 and its 200-day moving average price is $12.64. NewtekOne 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 quick ratio of 0.75 and a current ratio of 0.75.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm had revenue of $75.37 million during the quarter, compared to analysts' expectations of $69.55 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. On average, sell-side analysts forecast that NewtekOne will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 7.92%. The ex-dividend date was Tuesday, April 15th. NewtekOne's payout ratio is currently 38.97%.

NewtekOne Company 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.