1620 Investment Advisors Inc. Takes $432,000 Position in NewtekOne, Inc. (NASDAQ:NEWT)

1620 Investment Advisors Inc. purchased a new stake in NewtekOne, Inc. (NASDAQ:NEWT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 33,846 shares of the business services provider’s stock, valued at approximately $432,000. 1620 Investment Advisors Inc. owned 0.13% of NewtekOne as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Semanteon Capital Management LP purchased a new stake in shares of NewtekOne in the 4th quarter valued at approximately $210,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in NewtekOne by 27.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,821 shares of the business services provider’s stock worth $1,479,000 after buying an additional 24,595 shares during the period. Raymond James Financial Inc. purchased a new stake in NewtekOne during the 4th quarter worth approximately $1,125,000. Bard Associates Inc. increased its stake in NewtekOne by 6.1% during the 4th quarter. Bard Associates Inc. now owns 127,657 shares of the business services provider’s stock worth $1,654,000 after buying an additional 7,303 shares during the period. Finally, Bailard Inc. purchased a new stake in NewtekOne during the 4th quarter worth approximately $257,000. 38.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEWT has been the topic of a number of recent analyst reports. B. Riley increased their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Compass Point increased their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.50.

NewtekOne Trading Down 0.1 %

Shares of NewtekOne stock opened at $12.50 on Friday. The company has a fifty day simple moving average of $12.70 and a 200-day simple moving average of $12.95. NewtekOne, Inc. has a 12-month low of $10.30 and a 12-month high of $15.49. 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 stock has a market cap of $328.64 million, a price-to-earnings ratio of 6.98 and a beta of 1.33.

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

Insider Activity

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now directly owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 4,750 shares of company stock worth $61,368. Corporate insiders own 6.50% of the company’s stock.

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.