Quantinno Capital Management LP Acquires 39,990 Shares of NewtekOne, Inc. $NEWT

Quantinno Capital Management LP raised its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 98.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,543 shares of the business services provider’s stock after buying an additional 39,990 shares during the quarter. Quantinno Capital Management LP’s holdings in NewtekOne were worth $882,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC grew its stake in shares of NewtekOne by 3.8% in the fourth quarter. LPL Financial LLC now owns 21,220 shares of the business services provider’s stock worth $241,000 after acquiring an additional 775 shares during the last quarter. Kestra Advisory Services LLC increased its position in NewtekOne by 6.8% during the first quarter. Kestra Advisory Services LLC now owns 18,951 shares of the business services provider’s stock worth $208,000 after acquiring an additional 1,209 shares during the period. Cerity Partners LLC raised its stake in NewtekOne by 18.0% during the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 2,095 shares during the last quarter. Rhumbline Advisers raised its stake in NewtekOne by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Man Group plc boosted its holdings in NewtekOne by 6.1% in the 2nd quarter. Man Group plc now owns 40,138 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 2,304 shares during the period. 38.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on NEWT. Piper Sandler lifted their target price on NewtekOne from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Raymond James Financial raised NewtekOne to a “hold” rating in a report on Wednesday, July 1st. Zacks Research downgraded NewtekOne from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price objective on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Finally, Wall Street Zen cut NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.33.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $13.02 on Monday. The company’s fifty day moving average is $14.30 and its 200-day moving average is $13.24. The company has a debt-to-equity ratio of 7.41, a quick ratio of 0.65 and a current ratio of 0.65. NewtekOne, Inc. has a 52 week low of $9.59 and a 52 week high of $15.69. The company has a market capitalization of $376.15 million, a PE ratio of 5.86 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $90.05 million during the quarter, compared to analysts’ expectations of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. Equities research analysts predict that NewtekOne, Inc. will post 2.18 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 24th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Wednesday, June 24th. NewtekOne’s dividend payout ratio is currently 34.23%.

Insiders Place Their Bets

In other news, CEO Barry Sloane acquired 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $14.20 per share, with a total value of $71,000.00. Following the completion of the acquisition, the chief executive officer owned 1,181,914 shares in the company, valued at approximately $16,783,178.80. This represents a 0.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 18,237 shares of company stock worth $256,959 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

NewtekOne Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium?sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.