NewtekOne, Inc. (NASDAQ:NEWT) Holdings Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 27.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,821 shares of the business services provider's stock after purchasing an additional 24,595 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of NewtekOne worth $1,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its position in NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider's stock worth $32,000 after acquiring an additional 1,835 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in NewtekOne by 137.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider's stock worth $56,000 after purchasing an additional 2,500 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of NewtekOne by 28.7% in 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 last quarter. SG Americas Securities LLC increased its holdings in shares of NewtekOne by 39.0% in the 4th quarter. SG Americas Securities LLC now owns 11,274 shares of the business services provider's stock valued at $144,000 after acquiring an additional 3,166 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of NewtekOne by 1.0% in the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider's stock valued at $5,911,000 after acquiring an additional 4,595 shares during the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO Barry Sloane bought 3,000 shares of NewtekOne stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $12.95 per share, with a total value of $38,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 5,250 shares of company stock worth $67,608 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEWT. Compass Point upped their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday. B. Riley upped their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, NewtekOne has an average rating of "Hold" and an average price target of $14.50.

NewtekOne Stock Performance

NEWT stock traded down $0.16 during trading on Friday, reaching $12.34. 295,539 shares of the company's stock were exchanged, compared to its average volume of 162,602. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. NewtekOne, Inc. has a 1-year low of $10.43 and a 1-year high of $15.49. The company's fifty day moving average price is $12.70 and its 200-day moving average price is $12.96. The firm has a market cap of $324.43 million, a PE ratio of 6.89 and a beta of 1.33.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. The business had revenue of $75.37 million during the quarter, compared to analyst estimates of $69.55 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. On average, research analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal 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.