Tradition Wealth Management LLC Decreases Position in NewtekOne, Inc. (NASDAQ:NEWT)

Tradition Wealth Management LLC decreased its stake in NewtekOne, Inc. (NASDAQ:NEWT) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,391 shares of the business services provider’s stock after selling 2,814 shares during the quarter. Tradition Wealth Management LLC’s holdings in NewtekOne were worth $154,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of NewtekOne by 1,146.0% in the third 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 period. Vanguard Group Inc. boosted its stake in shares of NewtekOne by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock valued at $15,055,000 after purchasing an additional 17,505 shares during the period. Marshall Wace LLP grew its holdings in shares of NewtekOne by 200.3% in the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after purchasing an additional 180,468 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in NewtekOne in the 2nd quarter worth about $506,000. Finally, AQR Capital Management LLC bought a new stake in NewtekOne during the 2nd quarter valued at about $403,000. Institutional investors own 38.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler upped their target price on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. B. Riley cut NewtekOne from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

Insiders Place Their Bets

In other news, CEO Barry Sloane purchased 40,134 shares of the stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the acquisition, the chief executive officer now owns 1,187,457 shares of the company’s stock, valued at approximately $13,952,619.75. This represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 45,634 shares of company stock worth $547,020. 6.50% of the stock is owned by corporate insiders.

NewtekOne Trading Down 0.6 %

NASDAQ:NEWT opened at $14.42 on Tuesday. The firm has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $13.04. NewtekOne, Inc. has a one year low of $10.07 and a one year high of $15.49. The firm has a market cap of $379.32 million, a P/E ratio of 8.06 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 issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities analysts anticipate that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, October 10th. NewtekOne’s payout ratio is currently 42.46%.

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.