Royce & Associates LP Trims Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

Royce & Associates LP trimmed its holdings in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 40.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 447,461 shares of the business services provider's stock after selling 303,831 shares during the quarter. Royce & Associates LP owned about 1.70% of NewtekOne worth $5,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NEWT. Wellington Management Group LLP acquired a new position in NewtekOne during the 3rd quarter worth approximately $1,902,000. Bank of New York Mellon Corp lifted its holdings in shares of NewtekOne by 68.3% in the fourth quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider's stock valued at $3,563,000 after purchasing an additional 113,261 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of NewtekOne in the fourth quarter valued at approximately $1,125,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of NewtekOne by 245.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider's stock valued at $1,137,000 after purchasing an additional 64,790 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of NewtekOne in the third quarter valued at approximately $367,000. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Stock Performance

NewtekOne stock traded down $0.16 during mid-day 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 business's fifty day simple moving average is $12.70 and its 200 day simple moving average is $12.96. The firm has a market capitalization of $324.43 million, a PE ratio of 6.89 and a beta of 1.33. NewtekOne, Inc. has a one year low of $10.43 and a one year high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98.

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NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. The business had revenue of $75.37 million for 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, sell-side analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Barry Sloane bought 3,000 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,164,855 shares of the company's stock, valued at $15,084,872.25. This represents a 0.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have acquired 5,250 shares of company stock worth $67,608. 6.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEWT has been the topic of a number of recent research reports. Compass Point raised their target price on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday. B. Riley raised their target price on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.50.

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.