Connor Clark & Lunn Investment Management Ltd. Acquires 64,790 Shares of NewtekOne, Inc. (NASDAQ:NEWT)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in NewtekOne, Inc. (NASDAQ:NEWT) by 245.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,226 shares of the business services provider’s stock after buying an additional 64,790 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.35% of NewtekOne worth $1,137,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Quest Partners LLC raised its holdings in NewtekOne by 156.0% in the 3rd quarter. Quest Partners LLC now owns 33,618 shares of the business services provider’s stock valued at $419,000 after buying an additional 20,488 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in NewtekOne by 36.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares during the last quarter. International Assets Investment Management LLC raised its holdings in NewtekOne by 1,146.0% during 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 during the last quarter. nVerses Capital LLC raised its holdings in NewtekOne by 96.7% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after purchasing an additional 2,900 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in NewtekOne during the 3rd quarter worth approximately $101,000. Institutional investors own 38.35% of the company’s stock.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of NewtekOne stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average price of $14.75 per share, with a total value of $44,250.00. Following the transaction, the chief executive officer now owns 1,161,855 shares in the company, valued at $17,137,361.25. This trade represents a 0.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders acquired 45,634 shares of company stock valued at $547,020. 6.50% of the stock is owned by company insiders.

NewtekOne Stock Performance

NASDAQ:NEWT opened at $14.40 on Thursday. The company has a fifty day moving average of $13.30 and a 200-day moving average of $13.03. The firm has a market capitalization of $378.86 million, a P/E ratio of 8.04 and a beta of 1.29. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. NewtekOne, Inc. has a twelve month low of $10.07 and a twelve month high of $15.49.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data 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. The company had revenue of $83.12 million during the quarter, compared to analyst estimates 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 business posted $0.38 EPS. As a group, sell-side analysts anticipate that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.28%. The ex-dividend date was Thursday, October 10th. NewtekOne’s payout ratio is currently 42.46%.

Wall Street Analyst Weigh In

NEWT has been the subject of several analyst reports. B. Riley lowered shares of NewtekOne from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a report on Friday, November 8th. 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 report on Monday, November 11th.

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.