Prudential Financial Inc. Has $2.39 Million Stock Position in NewtekOne, Inc. $NEWT

Prudential Financial Inc. boosted its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 190.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,228 shares of the business services provider’s stock after acquiring an additional 139,177 shares during the quarter. Prudential Financial Inc. owned 0.81% of NewtekOne worth $2,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Segall Bryant & Hamill LLC increased its holdings in shares of NewtekOne by 81.4% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 284,754 shares of the business services provider’s stock valued at $3,212,000 after purchasing an additional 127,781 shares during the period. Rhumbline Advisers grew its position in NewtekOne by 6.1% during the second quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 2,108 shares in the last quarter. Magnetar Financial LLC grew its position in NewtekOne by 304.3% during the second quarter. Magnetar Financial LLC now owns 54,039 shares of the business services provider’s stock valued at $610,000 after purchasing an additional 40,672 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in NewtekOne by 45.1% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 55,928 shares of the business services provider’s stock valued at $631,000 after buying an additional 17,386 shares during the period. Finally, LSV Asset Management lifted its position in NewtekOne by 10.7% in the 2nd quarter. LSV Asset Management now owns 111,300 shares of the business services provider’s stock worth $1,255,000 after buying an additional 10,772 shares in the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Wall Street Analysts Forecast Growth

NEWT has been the topic of several research analyst reports. Wall Street Zen cut shares of NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $13.00 target price (up from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Finally, B. Riley began coverage on NewtekOne in a research note on Monday, September 15th. They set a “buy” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, NewtekOne presently has an average rating of “Hold” and an average target price of $14.25.

NewtekOne Stock Performance

NEWT opened at $11.23 on Friday. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $324.43 million, a PE ratio of 5.04 and a beta of 1.26. The stock has a 50-day moving average of $10.67 and a 200-day moving average of $11.22. NewtekOne, Inc. has a 52-week low of $9.12 and a 52-week high of $14.50.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%.The company had revenue of $74.94 million for the quarter, compared to the consensus estimate of $78.31 million. As a group, equities research analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Tuesday, October 14th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Tuesday, October 14th. NewtekOne’s dividend payout ratio is 34.08%.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane bought 10,000 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $10.22 per share, with a total value of $102,200.00. Following the acquisition, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at $12,391,330.98. This represents a 0.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.70% of the stock is currently owned by insiders.

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.