BNP Paribas Financial Markets Reduces Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

BNP Paribas Financial Markets cut its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 20.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,085 shares of the business services provider’s stock after selling 2,778 shares during the quarter. BNP Paribas Financial Markets’ holdings in NewtekOne were worth $142,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in NewtekOne by 25.6% in the fourth quarter. Jane Street Group LLC now owns 29,402 shares of the business services provider’s stock valued at $375,000 after buying an additional 5,986 shares in the last quarter. Northern Trust Corp grew its position in shares of NewtekOne by 9.6% in the fourth quarter. Northern Trust Corp now owns 210,102 shares of the business services provider’s stock valued at $2,683,000 after purchasing an additional 18,407 shares during the last quarter. Tudor Investment Corp ET AL grew its position in shares of NewtekOne by 24.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 108,516 shares of the business services provider’s stock valued at $1,386,000 after purchasing an additional 21,437 shares during the last quarter. Aquatic Capital Management LLC grew its position in shares of NewtekOne by 66.2% in the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 2,184 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its position in shares of NewtekOne by 6.7% in the fourth quarter. Boothbay Fund Management LLC now owns 116,892 shares of the business services provider’s stock valued at $1,493,000 after purchasing an additional 7,389 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Barry Sloane bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average price of $11.61 per share, for a total transaction of $116,100.00. Following the completion of the transaction, the chief executive officer now owns 1,180,459 shares in the company, valued at $13,705,128.99. The trade was a 0.85% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have bought 34,500 shares of company stock worth $386,100. 6.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEWT has been the topic of several research reports. Keefe, Bruyette & Woods lowered their price target on shares of NewtekOne from $15.00 to $13.00 and set a “market perform” rating on the stock in a research report on Thursday, May 8th. Compass Point increased their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th.

NewtekOne Stock Down 1.7%

NEWT stock opened at $10.93 on Friday. The company’s 50 day simple moving average is $10.77 and its 200-day simple moving average is $12.31. The firm has a market capitalization of $287.92 million, a PE ratio of 6.11 and a beta of 1.26. NewtekOne, Inc. has a 12 month low of $9.12 and a 12 month high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. Equities analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a yield of 6.95%. NewtekOne’s dividend payout ratio (DPR) is currently 39.58%.

NewtekOne Company 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.