Corton Capital Inc. Buys 17,023 Shares of NewtekOne, Inc. $NEWT

Corton Capital Inc. lifted its stake in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 150.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,311 shares of the business services provider’s stock after purchasing an additional 17,023 shares during the quarter. Corton Capital Inc.’s holdings in NewtekOne were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEWT. Cambridge Investment Research Advisors Inc. raised its stake in shares of NewtekOne by 8.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,780 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 980 shares during the period. Segall Bryant & Hamill LLC purchased a new position in NewtekOne during the first quarter worth about $1,877,000. Y Intercept Hong Kong Ltd purchased a new position in NewtekOne during the first quarter worth about $244,000. Royce & Associates LP grew its position in NewtekOne by 16.2% during the first quarter. Royce & Associates LP now owns 520,035 shares of the business services provider’s stock worth $6,220,000 after buying an additional 72,574 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in NewtekOne during the first quarter worth about $126,000. 38.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NEWT has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $13.00 target price (up from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. B. Riley initiated coverage on NewtekOne in a research report on Monday, September 15th. They set a “buy” rating and a $18.00 target price for the company. Finally, Piper Sandler boosted their target price on NewtekOne from $11.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.25.

NewtekOne Trading Up 1.9%

Shares of NEWT stock opened at $10.40 on Monday. The stock has a market capitalization of $273.73 million, a PE ratio of 4.66 and a beta of 1.23. NewtekOne, Inc. has a 1-year low of $9.12 and a 1-year high of $15.49. The business has a 50-day moving average of $11.51 and a 200 day moving average of $11.27. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $74.94 million during the quarter, compared to analysts’ expectations of $78.31 million. NewtekOne had a return on equity of 20.89% and a net margin of 15.59%. As a group, sell-side analysts anticipate that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Tuesday, October 14th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, October 14th. This represents a $0.76 annualized dividend and a yield of 7.3%. NewtekOne’s dividend payout ratio is currently 34.08%.

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.