Los Angeles Capital Management LLC Grows Stock Position in NewtekOne, Inc. $NEWT

Los Angeles Capital Management LLC boosted its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 61.4% during the second quarter, Holdings Channel.com reports. The fund owned 68,662 shares of the business services provider’s stock after acquiring an additional 26,109 shares during the period. Los Angeles Capital Management LLC’s holdings in NewtekOne were worth $775,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC purchased a new stake in shares of NewtekOne in the first quarter valued at about $1,877,000. Y Intercept Hong Kong Ltd acquired a new position in shares of NewtekOne during the 1st quarter worth approximately $244,000. Royce & Associates LP raised its position in shares of NewtekOne by 16.2% during the 1st quarter. Royce & Associates LP now owns 520,035 shares of the business services provider’s stock worth $6,220,000 after purchasing an additional 72,574 shares during the last quarter. XTX Topco Ltd purchased a new stake in NewtekOne in the 1st quarter valued at approximately $126,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in NewtekOne by 37.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,982 shares of the business services provider’s stock valued at $1,901,000 after buying an additional 43,161 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $10.05 on Friday. The company has a market cap of $290.34 million, a P/E ratio of 4.51 and a beta of 1.23. The business has a fifty day simple moving average of $11.14 and a 200-day simple moving average of $11.25. NewtekOne, Inc. has a 52 week low of $9.12 and a 52 week high of $14.87. The company has a quick ratio of 0.75, a current ratio of 0.67 and a debt-to-equity ratio of 5.69.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $74.94 million for the quarter, compared to the consensus estimate of $78.31 million. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%. Equities research analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Tuesday, October 14th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $0.76 annualized dividend and a dividend yield of 7.6%. NewtekOne’s dividend payout ratio (DPR) is currently 34.08%.

Analyst Ratings Changes

NEWT has been the subject of a number of analyst reports. Piper Sandler boosted their price target on NewtekOne from $11.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $13.00 price objective (up previously from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Finally, B. Riley assumed coverage on shares of NewtekOne in a research note on Monday, September 15th. They set a “buy” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.25.

Insider Activity

In related news, CEO Barry Sloane bought 10,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $10.22 per share, for a total transaction of $102,200.00. Following the completion of the acquisition, the chief executive officer owned 1,212,459 shares in the company, valued at $12,391,330.98. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.70% of the company’s stock.

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.