NewtekOne, Inc. (NASDAQ:NEWT) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 53.0% during the third quarter, Holdings Channel.com reports. The firm owned 18,911 shares of the business services provider’s stock after selling 21,325 shares during the period. Cornercap Investment Counsel Inc.’s holdings in NewtekOne were worth $236,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NEWT. Marshall Wace LLP raised its holdings in NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after buying an additional 180,468 shares during the period. International Assets Investment Management LLC raised its stake in shares of NewtekOne by 1,146.0% in the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock valued at $761,000 after acquiring an additional 56,154 shares in the last quarter. American Century Companies Inc. boosted its holdings in NewtekOne by 27.2% in the second quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock valued at $2,397,000 after purchasing an additional 40,738 shares during the period. Ancora Advisors LLC grew its stake in NewtekOne by 43.5% during the 1st quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider’s stock worth $1,440,000 after purchasing an additional 39,659 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in NewtekOne during the 2nd quarter worth about $403,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

NewtekOne Price Performance

NEWT stock opened at $13.80 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 1.42 and a debt-to-equity ratio of 4.98. The company has a market capitalization of $363.08 million, a P/E ratio of 7.85 and a beta of 1.29. The business has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $12.91. NewtekOne, Inc. has a twelve month low of $10.07 and a twelve month high of $15.49.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, equities analysts anticipate that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.51%. The ex-dividend date was Thursday, October 10th. NewtekOne’s dividend payout ratio (DPR) is presently 42.46%.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane bought 40,134 shares of the stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the purchase, the chief executive officer now owns 1,187,457 shares of the company’s stock, valued at $13,952,619.75. This trade represents a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased a total of 42,634 shares of company stock valued at $502,770 in the last ninety days. Insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

NEWT has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated 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. Piper Sandler lifted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a research note on Wednesday, September 4th.

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.