Dynamic Technology Lab Private Ltd Has $631,000 Position in NewtekOne, Inc. $NEWT

Dynamic Technology Lab Private Ltd raised its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 45.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,928 shares of the business services provider’s stock after buying an additional 17,386 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in NewtekOne were worth $631,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Jump Financial LLC boosted its position in shares of NewtekOne by 217.1% during the 1st quarter. Jump Financial LLC now owns 33,114 shares of the business services provider’s stock valued at $396,000 after acquiring an additional 22,672 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in NewtekOne by 37.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,982 shares of the business services provider’s stock worth $1,901,000 after purchasing an additional 43,161 shares during the period. Los Angeles Capital Management LLC boosted its holdings in NewtekOne by 61.4% during the second quarter. Los Angeles Capital Management LLC now owns 68,662 shares of the business services provider’s stock valued at $775,000 after purchasing an additional 26,109 shares in the last quarter. Boston Partners bought a new stake in shares of NewtekOne in the 2nd quarter valued at approximately $801,000. Finally, Nuveen LLC acquired a new position in shares of NewtekOne in the 1st quarter worth approximately $758,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Analyst Ratings Changes

NEWT has been the topic of several recent analyst reports. Piper Sandler boosted their price target on NewtekOne from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $13.00 target price (up previously from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Wall Street Zen downgraded shares of NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Finally, B. Riley started coverage on shares of NewtekOne in a report on Monday, September 15th. They set a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, NewtekOne currently has an average rating of “Hold” and an average target price of $14.25.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane acquired 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $10.22 per share, for a total transaction of $102,200.00. Following the transaction, the chief executive officer owned 1,212,459 shares of the company’s stock, valued at approximately $12,391,330.98. This represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.70% of the company’s stock.

NewtekOne Stock Performance

NewtekOne stock opened at $10.12 on Friday. The stock has a 50-day simple moving average of $10.92 and a 200 day simple moving average of $11.23. The stock has a market capitalization of $292.37 million, a price-to-earnings ratio of 4.54 and a beta of 1.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69. NewtekOne, Inc. has a 12-month low of $9.12 and a 12-month high of $14.87.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. The firm had revenue of $74.94 million during the quarter, compared to analysts’ expectations of $78.31 million. On average, research analysts anticipate that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Tuesday, October 14th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 7.5%. The ex-dividend date was Tuesday, October 14th. NewtekOne’s payout ratio is 34.08%.

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.