NewtekOne, Inc. (NASDAQ:NEWT) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC lessened its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 18.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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.

A number of other large investors have also modified their holdings of the business. International Assets Investment Management LLC boosted its stake in 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 purchasing an additional 56,154 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of NewtekOne by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock worth $15,055,000 after buying an additional 17,505 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of NewtekOne by 200.3% during the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after buying an additional 180,468 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of NewtekOne in the 2nd quarter valued at $506,000. Finally, AQR Capital Management LLC purchased a new position in NewtekOne in the 2nd quarter worth $403,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Stock Performance

NASDAQ NEWT opened at $14.42 on Tuesday. The firm has a market capitalization of $379.32 million, a P/E ratio of 8.06 and a beta of 1.29. The stock has a 50-day simple moving average of $13.46 and a two-hundred day simple moving average of $13.04. 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, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.49.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $83.12 million during the quarter, compared to analysts’ expectations of $61.76 million. During the same period last year, the business earned $0.38 earnings per share. On average, equities analysts forecast that NewtekOne, Inc. will post 1.93 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 paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne’s dividend payout ratio is currently 42.46%.

Insider Buying and Selling

In other news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was acquired at an average price of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the transaction, the chief executive officer now owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. The trade was a 0.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have bought 45,634 shares of company stock valued at $547,020. Corporate insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEWT. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price objective (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 raised their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th.

NewtekOne 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.