Quest Partners LLC Grows Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Quest Partners LLC increased its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 156.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 33,618 shares of the business services provider’s stock after acquiring an additional 20,488 shares during the period. Quest Partners LLC owned approximately 0.13% of NewtekOne worth $419,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEWT. International Assets Investment Management LLC purchased a new position in shares of NewtekOne during the 2nd quarter worth $62,000. nVerses Capital LLC boosted its stake in NewtekOne by 96.7% during the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after buying an additional 2,900 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 2,002 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of NewtekOne in the 3rd quarter valued at approximately $101,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of NewtekOne in the 2nd quarter worth approximately $192,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NEWT shares. Piper Sandler lifted their target price on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Finally, B. Riley lowered NewtekOne from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th.

Insiders Place Their Bets

In other news, CEO Barry Sloane acquired 40,134 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $11.75 per share, with a total value of $471,574.50. Following the transaction, the chief executive officer now owns 1,187,457 shares in the company, valued at approximately $13,952,619.75. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought 42,634 shares of company stock worth $502,770 in the last 90 days. Corporate insiders own 6.50% of the company’s stock.

NewtekOne Stock Performance

Shares of NEWT stock opened at $14.53 on Monday. NewtekOne, Inc. has a 52 week low of $10.07 and a 52 week high of $15.49. The firm has a 50 day moving average of $13.12 and a two-hundred day moving average of $12.99. 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 $382.21 million, a PE ratio of 8.12 and a beta of 1.29.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. During the same period in the previous year, the firm posted $0.38 EPS. On average, research analysts predict that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were paid a $0.19 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 5.23%. NewtekOne’s dividend payout ratio is currently 42.46%.

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.