North Reef Capital Management LP Purchases Shares of 386,924 NewtekOne, Inc. $NEWT

North Reef Capital Management LP acquired a new position in NewtekOne, Inc. (NASDAQ:NEWT) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 386,924 shares of the business services provider’s stock, valued at approximately $4,430,000. North Reef Capital Management LP owned 1.34% of NewtekOne at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV acquired a new position in NewtekOne during the third quarter worth $191,000. Creative Planning bought a new position in NewtekOne during the 3rd quarter valued at about $516,000. Man Group plc lifted its holdings in NewtekOne by 7.5% during the 3rd quarter. Man Group plc now owns 43,145 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 3,007 shares during the last quarter. Patriot Financial Partners GP II L.P. acquired a new position in NewtekOne in the third quarter valued at about $26,423,000. Finally, Two Sigma Investments LP boosted its position in NewtekOne by 106.6% in the third quarter. Two Sigma Investments LP now owns 223,622 shares of the business services provider’s stock valued at $2,560,000 after buying an additional 115,374 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEWT has been the subject of a number of research analyst reports. Wall Street Zen raised NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods upped their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Piper Sandler raised their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, NewtekOne has an average rating of “Hold” and an average target price of $15.00.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane acquired 3,595 shares of NewtekOne stock in a transaction dated Wednesday, January 14th. The stock was purchased at an average cost of $13.91 per share, for a total transaction of $50,006.45. Following the completion of the acquisition, the chief executive officer directly owned 1,194,180 shares of the company’s stock, valued at $16,611,043.80. This represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Adam Schwartz bought 2,247 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average cost of $13.91 per share, with a total value of $31,255.77. Following the completion of the transaction, the insider owned 49,713 shares of the company’s stock, valued at $691,507.83. This represents a 4.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,656 shares of company stock worth $120,405 over the last ninety days. Insiders own 6.70% of the company’s stock.

NewtekOne Trading Up 0.8%

Shares of NewtekOne stock opened at $11.88 on Tuesday. The stock has a market capitalization of $342.50 million, a PE ratio of 5.42 and a beta of 1.25. NewtekOne, Inc. has a 52 week low of $9.12 and a 52 week high of $14.91. The stock has a 50 day moving average price of $13.10 and a two-hundred day moving average price of $11.87. The company has a debt-to-equity ratio of 6.41, a quick ratio of 0.71 and a current ratio of 0.71.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. NewtekOne had a return on equity of 18.83% and a net margin of 15.51%.The company had revenue of $120.83 million for the quarter, compared to analyst estimates of $80.01 million. As a group, equities analysts anticipate that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 24th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, March 24th. NewtekOne’s dividend payout ratio (DPR) is 34.70%.

NewtekOne Company 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.