NewtekOne, Inc. (NASDAQ:NEWT) Shares Acquired by Royce & Associates LP

Royce & Associates LP grew its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 16.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 520,035 shares of the business services provider’s stock after acquiring an additional 72,574 shares during the quarter. Royce & Associates LP owned about 1.98% of NewtekOne worth $6,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of NewtekOne by 8.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,780 shares of the business services provider’s stock worth $153,000 after purchasing an additional 980 shares during the last quarter. American Century Companies Inc. increased its position in shares of NewtekOne by 116.6% during the 4th quarter. American Century Companies Inc. now owns 112,400 shares of the business services provider’s stock worth $1,435,000 after purchasing an additional 60,518 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of NewtekOne during the 1st quarter worth about $1,877,000. Nuveen Asset Management LLC increased its position in shares of NewtekOne by 59.3% during the 4th quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider’s stock worth $871,000 after purchasing an additional 25,399 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of NewtekOne by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock worth $7,467,000 after purchasing an additional 10,933 shares during the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Stock Performance

NASDAQ NEWT opened at $11.71 on Friday. The company has a market cap of $308.44 million, a P/E ratio of 6.10 and a beta of 1.21. The company has a debt-to-equity ratio of 6.16, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a 50-day moving average of $11.15 and a two-hundred day moving average of $11.59. NewtekOne, Inc. has a 1-year low of $9.12 and a 1-year high of $15.49.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $66.33 million during the quarter, compared to the consensus estimate of $63.15 million. NewtekOne had a return on equity of 18.81% and a net margin of 14.34%. As a group, analysts anticipate that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Wednesday, July 9th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.49%. The ex-dividend date was Wednesday, July 9th. NewtekOne’s dividend payout ratio is currently 39.58%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut their price objective on NewtekOne from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Friday, July 11th.

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 10,000 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $10.86 per share, with a total value of $108,600.00. Following the transaction, the chief executive officer directly owned 1,200,459 shares in the company, valued at $13,036,984.74. The trade was a 0.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 36,500 shares of company stock valued at $406,175. Insiders own 6.50% of the company’s stock.

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.