Barrett & Company Inc. Lowers Stock Position in NewtekOne, Inc. (NASDAQ:NEWT)

Barrett & Company Inc. trimmed its position in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,723 shares of the business services provider’s stock after selling 8,101 shares during the period. NewtekOne accounts for 0.8% of Barrett & Company Inc.’s portfolio, making the stock its 26th largest holding. Barrett & Company Inc.’s holdings in NewtekOne were worth $1,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. nVerses Capital LLC raised its position in NewtekOne by 96.7% during the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 2,900 shares during the period. Rhumbline Advisers lifted its position in shares of NewtekOne by 12.0% during the second quarter. Rhumbline Advisers now owns 33,665 shares of the business services provider’s stock worth $423,000 after purchasing an additional 3,617 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of NewtekOne during the second quarter valued at $62,000. Bank of New York Mellon Corp increased its stake in 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 period. Finally, BNP Paribas Financial Markets grew its stake in NewtekOne by 124.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock worth $158,000 after acquiring an additional 7,961 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 6,649 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the acquisition, the chief executive officer now owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 48,283 shares of company stock worth $569,472 over the last three months. Corporate insiders own 6.40% of the company’s stock.

NewtekOne Stock Up 0.3 %

NASDAQ NEWT traded up $0.04 during midday trading on Monday, hitting $13.31. 16,975 shares of the company traded hands, compared to its average volume of 157,218. NewtekOne, Inc. has a 52 week low of $10.07 and a 52 week high of $15.75. The company’s 50-day simple moving average is $12.37 and its 200-day simple moving average is $12.61. The company has a market cap of $329.21 million, a PE ratio of 8.56 and a beta of 1.30. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $81.37 million for the quarter, compared to the consensus estimate of $59.68 million. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. During the same quarter last year, the company earned $0.26 earnings per share. As a group, equities research analysts forecast that NewtekOne, Inc. will post 1.9 earnings per share for the current year.

NewtekOne Announces Dividend

The company also recently announced 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. The ex-dividend date was Thursday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 5.71%. NewtekOne’s payout ratio is 49.03%.

Analyst Upgrades and Downgrades

Separately, 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.

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.