Bank of New York Mellon Corp Grows Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

Bank of New York Mellon Corp lifted its holdings in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 68.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,001 shares of the business services provider's stock after buying an additional 113,261 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of NewtekOne worth $3,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NEWT. Quest Partners LLC boosted its stake in NewtekOne by 156.0% in the 3rd quarter. Quest Partners LLC now owns 33,618 shares of the business services provider's stock worth $419,000 after purchasing an additional 20,488 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in NewtekOne by 245.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider's stock worth $1,137,000 after purchasing an additional 64,790 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in NewtekOne in the 3rd quarter worth about $197,000. FMR LLC boosted its stake in NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider's stock worth $32,000 after purchasing an additional 1,835 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in NewtekOne by 28.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider's stock valued at $173,000 after acquiring an additional 3,094 shares during the period. Institutional investors own 38.35% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have issued reports on NEWT. B. Riley 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, December 19th. 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. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, NewtekOne has a consensus rating of "Hold" and an average price target of $14.50.

Insider Transactions at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now directly owns 1,164,855 shares of the company's stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 5,250 shares of company stock worth $67,608 in the last quarter. Company insiders own 6.50% of the company's stock.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT traded down $0.16 during trading on Friday, hitting $12.34. The company's stock had a trading volume of 295,539 shares, compared to its average volume of 162,602. The company has a 50-day moving average of $12.70 and a 200-day moving average of $12.96. NewtekOne, Inc. has a 12 month low of $10.43 and a 12 month high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $324.43 million, a price-to-earnings ratio of 6.89 and a beta of 1.33.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $69.55 million. On average, sell-side analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

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.