Y Intercept Hong Kong Ltd Sells 7,309 Shares of NewtekOne, Inc. $NEWT

Y Intercept Hong Kong Ltd reduced its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 35.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,081 shares of the business services provider’s stock after selling 7,309 shares during the period. Y Intercept Hong Kong Ltd’s holdings in NewtekOne were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new position in NewtekOne in the 2nd quarter valued at approximately $29,000. IFP Advisors Inc lifted its stake in shares of NewtekOne by 74.9% in the 2nd quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 2,901 shares during the last quarter. CWM LLC boosted its holdings in shares of NewtekOne by 728.7% during the 2nd quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock valued at $97,000 after acquiring an additional 7,571 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in NewtekOne during the 1st quarter worth $123,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in NewtekOne in the 1st quarter worth about $126,000. 38.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reiterated 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. Piper Sandler boosted their price objective on shares of NewtekOne from $11.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Finally, B. Riley began coverage on shares of NewtekOne in a research report on Monday, September 15th. They set a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.25.

NewtekOne Stock Performance

NASDAQ:NEWT opened at $10.27 on Monday. The company has a fifty day moving average of $11.32 and a 200-day moving average of $11.27. The firm has a market capitalization of $270.33 million, a P/E ratio of 4.61 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 5.95. NewtekOne, Inc. has a twelve month low of $9.12 and a twelve month high of $15.49.

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

NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Tuesday, October 14th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Tuesday, October 14th. NewtekOne’s dividend payout ratio is 34.08%.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $10.22 per share, with a total value of $102,200.00. Following the transaction, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at approximately $12,391,330.98. This represents a 0.83% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.70% of the stock is currently owned by corporate insiders.

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.