Wellington Management Group LLP Buys New Shares in NewtekOne, Inc. (NASDAQ:NEWT)

Wellington Management Group LLP purchased a new stake in shares of NewtekOne, Inc. (NASDAQ:NEWT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 152,638 shares of the business services provider's stock, valued at approximately $1,902,000. Wellington Management Group LLP owned 0.58% of NewtekOne at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider's stock valued at $32,000 after acquiring an additional 1,835 shares in the last quarter. International Assets Investment Management LLC purchased a new position in NewtekOne during the second quarter valued at approximately $62,000. nVerses Capital LLC increased its stake in NewtekOne by 96.7% in the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider's stock valued at $74,000 after buying an additional 2,900 shares during the period. Harbor Capital Advisors Inc. lifted its position in NewtekOne by 36.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider's stock worth $94,000 after buying an additional 2,002 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of NewtekOne during the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 38.35% of the company's stock.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was bought at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,161,855 shares in the company, valued at $17,137,361.25. This represents a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 44,634 shares of company stock worth $535,640. 6.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. B. Riley upped their target price on NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Piper Sandler lifted their price target on NewtekOne from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, November 11th.

NewtekOne Stock Down 0.3 %

NASDAQ NEWT traded down $0.04 during trading on Thursday, hitting $12.61. 224,363 shares of the company traded hands, compared to its average volume of 156,941. The company has a market capitalization of $331.77 million, a P/E ratio of 7.04 and a beta of 1.30. The business has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $13.09. NewtekOne, Inc. has a 12 month low of $10.07 and a 12 month high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98.

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

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.03%. The ex-dividend date is Tuesday, December 31st. NewtekOne's dividend payout ratio is currently 42.46%.

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.