North Reef Capital Management LP Takes $4.43 Million Position in NewtekOne, Inc. $NEWT

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of NewtekOne in the 2nd quarter worth $107,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of NewtekOne during the third quarter valued at about $150,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of NewtekOne in the third quarter worth about $191,000. R Squared Ltd purchased a new position in shares of NewtekOne in the third quarter worth about $225,000. Finally, CWM LLC lifted its stake in shares of NewtekOne by 147.3% in the 3rd quarter. CWM LLC now owns 21,289 shares of the business services provider’s stock valued at $244,000 after acquiring an additional 12,679 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NEWT shares. Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods boosted their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Piper Sandler increased their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.00.

NewtekOne Stock Up 0.8%

Shares of NASDAQ NEWT opened at $11.88 on Tuesday. The firm has a market cap of $342.50 million, a price-to-earnings ratio of 5.42 and a beta of 1.25. The company’s 50-day simple moving average is $13.10 and its 200-day simple moving average is $11.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 6.41. NewtekOne, Inc. has a 52-week low of $9.12 and a 52-week high of $14.91.

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

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 24th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Tuesday, March 24th. NewtekOne’s payout ratio is presently 34.70%.

Insider Activity at NewtekOne

In other NewtekOne news, insider Michael Adam Schwartz bought 2,247 shares of the stock in a transaction on Wednesday, January 14th. The shares were bought at an average price of $13.91 per share, with a total value of $31,255.77. Following the purchase, the insider directly owned 49,713 shares in the company, valued at $691,507.83. This trade represents a 4.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Barry Sloane bought 3,595 shares of the company’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 $50,006.45. Following the acquisition, the chief executive officer directly owned 1,194,180 shares of the company’s stock, valued at approximately $16,611,043.80. This represents a 0.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 8,656 shares of company stock valued at $120,405 over the last quarter. 6.70% of the stock is owned by company insiders.

About NewtekOne

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.