NewtekOne, Inc. (NASDAQ:NEWT) Sees Large Growth in Short Interest

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 1,160,000 shares, a growth of 23.3% from the January 31st total of 941,000 shares. Based on an average daily volume of 150,300 shares, the short-interest ratio is presently 7.7 days.

Analysts Set New Price Targets

NEWT has been the subject of a number of recent research reports. B. Riley lifted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Piper Sandler lifted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th.

NewtekOne Stock Up 1.4 %

NewtekOne stock traded up $0.17 during trading on Friday, reaching $12.29. The stock had a trading volume of 292,311 shares, compared to its average volume of 164,773. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.49. The business has a 50 day moving average price of $12.79 and a 200 day moving average price of $12.98. 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 cap of $323.29 million, a PE ratio of 6.87 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. The business had revenue of $75.37 million during the quarter, compared to the consensus estimate of $69.55 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. On average, analysts predict that NewtekOne will post 1.93 EPS for the current year.

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NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 6.18%. NewtekOne's dividend payout ratio is presently 38.97%.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the acquisition, the chief executive officer now 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 4,750 shares of company stock worth $61,368. Corporate insiders own 6.50% of the company's stock.

Hedge Funds Weigh In On NewtekOne

Institutional investors have recently modified their holdings of the business. Barclays PLC increased its holdings in shares of NewtekOne by 285.2% in the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider's stock valued at $376,000 after acquiring an additional 22,360 shares during the period. International Assets Investment Management LLC increased its stake in NewtekOne by 1,146.0% in the 3rd quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider's stock valued at $761,000 after buying an additional 56,154 shares during the period. JPMorgan Chase & Co. grew its stake in shares of NewtekOne by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,120 shares of the business services provider's stock worth $425,000 after purchasing an additional 16,596 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of 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 period. Finally, Wellington Management Group LLP acquired a new position in shares of NewtekOne during the 3rd quarter worth $1,902,000. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Company 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.