Short Interest in NewtekOne, Inc. (NASDAQ:NEWT) Rises By 23.3%

NewtekOne, Inc. (NASDAQ:NEWT) was the recipient of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 1,160,000 shares, an increase of 23.3% from the January 31st total of 941,000 shares. Based on an average trading volume of 150,300 shares, the short-interest ratio is presently 7.7 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NEWT shares. B. Riley raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Piper Sandler lifted their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

Insider Buying and Selling

In other NewtekOne news, CEO Barry Sloane bought 3,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $12.95 per share, with a total value of $38,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. This represents a 0.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 4,750 shares of company stock valued at $61,368 over the last three months. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEWT. Connective Capital Management LLC acquired a new stake in shares of NewtekOne during the fourth quarter worth about $250,000. Two Sigma Investments LP increased its holdings in shares of NewtekOne by 24.2% in the fourth quarter. Two Sigma Investments LP now owns 90,407 shares of the business services provider’s stock valued at $1,154,000 after purchasing an additional 17,629 shares during the last quarter. Man Group plc raised its stake in NewtekOne by 13.0% during the fourth quarter. Man Group plc now owns 50,790 shares of the business services provider’s stock worth $649,000 after purchasing an additional 5,843 shares during the period. Nuveen Asset Management LLC raised its position in shares of NewtekOne by 59.3% during the 4th quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider’s stock valued at $871,000 after buying an additional 25,399 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NewtekOne by 8.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider’s stock worth $176,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT traded down $0.01 during mid-day trading on Friday, reaching $12.11. The company had a trading volume of 102,275 shares, compared to its average volume of 160,068. NewtekOne has a one year low of $10.07 and a one year high of $15.49. The company’s 50-day moving average price is $12.80 and its 200-day moving average price is $12.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The firm has a market cap of $318.53 million, a price-to-earnings ratio of 6.73 and a beta of 1.33.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $75.37 million for the quarter, compared to the consensus estimate of $69.55 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. As a group, equities research analysts anticipate that NewtekOne will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend was Tuesday, December 31st. NewtekOne’s dividend payout ratio (DPR) is presently 38.97%.

About NewtekOne

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.