JPMorgan Chase & Co. Boosts Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

JPMorgan Chase & Co. raised its position in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 308.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,517 shares of the business services provider's stock after purchasing an additional 105,397 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of NewtekOne worth $1,782,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NEWT. Geode Capital Management LLC increased its stake in NewtekOne by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider's stock worth $7,149,000 after buying an additional 22,167 shares during the period. State Street Corp boosted its position in NewtekOne by 1.0% during the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider's stock valued at $5,911,000 after acquiring an additional 4,595 shares in the last quarter. Bank of New York Mellon Corp grew its stake in NewtekOne by 68.3% in the fourth 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 last quarter. Bard Associates Inc. grew its position in shares of NewtekOne by 6.1% in the 4th quarter. Bard Associates Inc. now owns 127,657 shares of the business services provider's stock worth $1,654,000 after buying an additional 7,303 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of NewtekOne by 27.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,821 shares of the business services provider's stock worth $1,479,000 after purchasing an additional 24,595 shares in the last quarter. Institutional investors own 38.35% of the company's stock.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT traded down $0.31 during trading on Wednesday, hitting $10.40. The stock had a trading volume of 329,438 shares, compared to its average volume of 181,241. NewtekOne, Inc. has a 12-month low of $9.12 and a 12-month high of $15.49. The stock has a 50-day simple moving average of $11.50 and a two-hundred day simple moving average of $12.73. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a market capitalization of $273.43 million, a price-to-earnings ratio of 5.81 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings data 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. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The firm had revenue of $75.37 million for the quarter, compared to analyst estimates of $69.55 million. On average, equities research 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 will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.76 annualized dividend and a dividend yield of 7.31%. NewtekOne's dividend payout ratio is presently 38.97%.

Analysts Set New Price Targets

Separately, Compass Point raised their price target on NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, NewtekOne presently has an average rating of "Hold" and an average target price of $14.50.

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.