Royce & Associates LP Has $9.36 Million Stock Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

Royce & Associates LP cut its position in NewtekOne, Inc. (NASDAQ:NEWT - Free Report) by 42.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 751,292 shares of the business services provider's stock after selling 548,506 shares during the quarter. Royce & Associates LP owned about 2.89% of NewtekOne worth $9,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEWT. International Assets Investment Management LLC acquired a new position in shares of NewtekOne during the second quarter worth approximately $62,000. nVerses Capital LLC grew its stake in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider's stock worth $74,000 after purchasing an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings 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 purchasing an additional 2,002 shares during the period. SG Americas Securities LLC bought a new stake in shares of NewtekOne during the third quarter valued at about $101,000. Finally, Kinloch Capital LLC acquired a new stake in NewtekOne in the first quarter worth about $148,000. 38.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on NewtekOne from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. B. Riley cut NewtekOne from a "buy" rating to a "neutral" rating and dropped their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 4th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane purchased 40,134 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was bought at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the completion of the acquisition, the chief executive officer now directly owns 1,187,457 shares of the company's stock, valued at approximately $13,952,619.75. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders bought 42,634 shares of company stock valued at $502,770. Insiders own 6.50% of the company's stock.

NewtekOne Stock Down 1.8 %

Shares of NewtekOne stock traded down $0.26 during midday trading on Monday, hitting $13.80. The company's stock had a trading volume of 133,754 shares, compared to its average volume of 159,076. The firm has a market capitalization of $363.08 million, a P/E ratio of 7.85 and a beta of 1.29. NewtekOne, Inc. has a 1-year low of $10.07 and a 1-year high of $15.49. The company has a quick ratio of 1.42, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a 50-day simple moving average of $12.84 and a 200-day simple moving average of $12.91.

NewtekOne (NASDAQ:NEWT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The business had revenue of $83.12 million during the quarter, compared to analyst estimates of $61.76 million. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, sell-side analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 5.51%. NewtekOne's dividend payout ratio is 42.46%.

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.