Corton Capital Inc. Makes New $346,000 Investment in NewtekOne, Inc. (NASDAQ:NEWT)

Corton Capital Inc. acquired a new stake in NewtekOne, Inc. (NASDAQ:NEWT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 27,057 shares of the business services provider’s stock, valued at approximately $346,000.

A number of other institutional investors have also modified their holdings of NEWT. Bank of New York Mellon Corp lifted its stake in shares of NewtekOne by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after purchasing an additional 113,261 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NewtekOne by 308.9% during the 4th quarter. JPMorgan Chase & Co. now owns 139,517 shares of the business services provider’s stock worth $1,782,000 after acquiring an additional 105,397 shares in the last quarter. Wellington Management Group LLP grew its position in NewtekOne by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider’s stock valued at $3,239,000 after acquiring an additional 100,989 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of NewtekOne during the fourth quarter valued at approximately $1,125,000. Finally, American Century Companies Inc. raised its stake in shares of NewtekOne by 116.6% during the fourth quarter. American Century Companies Inc. now owns 112,400 shares of the business services provider’s stock valued at $1,435,000 after purchasing an additional 60,518 shares during the period. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Compass Point upped their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, NewtekOne has a consensus rating of “Hold” and an average price target of $14.50.

NewtekOne Price Performance

Shares of NASDAQ NEWT opened at $9.54 on Wednesday. The firm has a market cap of $250.82 million, a PE ratio of 5.33 and a beta of 1.26. 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 business has a 50 day moving average price of $11.27 and a two-hundred day moving average price of $12.62. NewtekOne, Inc. has a fifty-two week low of $9.12 and a fifty-two week high of $15.49.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. Sell-side analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.97%. NewtekOne’s dividend payout ratio (DPR) is 38.97%.

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.