Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 245.1% during the third quarter, Holdings Channel.com reports. The fund owned 91,226 shares of the business services provider’s stock after purchasing an additional 64,790 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NewtekOne were worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in NewtekOne by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock worth $15,055,000 after acquiring an additional 17,505 shares during the last quarter. Marshall Wace LLP boosted its holdings in NewtekOne by 200.3% during the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after acquiring an additional 180,468 shares during the last quarter. American Century Companies Inc. boosted its holdings in NewtekOne by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock worth $2,397,000 after acquiring an additional 40,738 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NewtekOne by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,053 shares of the business services provider’s stock worth $2,314,000 after buying an additional 6,640 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of NewtekOne by 1,146.0% in the 3rd quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock worth $761,000 after buying an additional 56,154 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Barry Sloane purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. This represents a 0.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 45,634 shares of company stock worth $547,020 over the last ninety days. Company insiders own 6.50% of the company’s stock.

NewtekOne Trading Up 0.2 %

Shares of NewtekOne stock opened at $14.40 on Thursday. NewtekOne, Inc. has a 52-week low of $10.07 and a 52-week high of $15.49. The stock’s 50-day simple moving average is $13.30 and its 200 day simple moving average is $13.03. The stock has a market capitalization of $378.86 million, a P/E ratio of 8.04 and a beta of 1.29. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. During the same period in the previous year, the business posted $0.38 EPS. As a group, research 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. Stockholders of record on Thursday, October 10th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne’s dividend payout ratio is presently 42.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th. B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Finally, Piper Sandler boosted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th.

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.