Connor Clark & Lunn Investment Management Ltd. Has $1.48 Million Stock Holdings in NewtekOne, Inc. (NASDAQ:NEWT)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of NewtekOne, Inc. (NASDAQ:NEWT) by 27.0% in the 4th quarter, Holdings Channel reports. The firm owned 115,821 shares of the business services provider’s stock after buying an additional 24,595 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in NewtekOne were worth $1,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NEWT. Wellington Management Group LLP bought a new stake in shares of NewtekOne during the 3rd quarter worth $1,902,000. Bank of New York Mellon Corp lifted its holdings in shares of NewtekOne by 68.3% in the fourth quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after acquiring an additional 113,261 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of NewtekOne in the 4th quarter valued at approximately $1,125,000. Y Intercept Hong Kong Ltd bought a new stake in shares of NewtekOne during the 3rd quarter valued at approximately $367,000. Finally, Barclays PLC increased its position in NewtekOne by 285.2% during the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock worth $376,000 after purchasing an additional 22,360 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised their target price 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.

NewtekOne Stock Performance

Shares of NEWT stock opened at $12.51 on Thursday. The firm has a market capitalization of $329.08 million, a price-to-earnings ratio of 6.99 and a beta of 1.33. 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 business’s 50-day moving average price is $12.70 and its 200-day moving average price is $12.95. NewtekOne, Inc. has a 12 month low of $10.07 and a 12 month high of $15.49.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $69.55 million. Equities research analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO Barry Sloane bought 3,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $12.95 per share, with a total value of $38,850.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 4,750 shares of company stock valued at $61,368 over the last 90 days. 6.50% of the stock is owned by insiders.

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.