NewtekOne (NASDAQ:NEWT) Issues Quarterly Earnings Results

NewtekOne (NASDAQ:NEWT) released its earnings results on Monday. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02, Zacks reports. The firm had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. NewtekOne had a return on equity of 18.27% and a net margin of 14.14%. During the same period in the prior year, the firm posted $0.26 earnings per share.

NewtekOne Stock Performance

Shares of NewtekOne stock traded up $0.10 during trading hours on Tuesday, reaching $12.60. 193,791 shares of the stock traded hands, compared to its average volume of 157,891. The company has a 50 day moving average price of $13.25 and a 200 day moving average price of $12.26. The firm has a market capitalization of $311.65 million, a price-to-earnings ratio of 8.13 and a beta of 1.30. NewtekOne has a one year low of $10.07 and a one year high of $19.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 5.01.

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.03%. NewtekOne’s dividend payout ratio is currently 49.03%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of NewtekOne from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, NewtekOne currently has a consensus rating of “Hold” and an average price target of $14.50.

Insider Buying and Selling at NewtekOne

In related news, CFO Michael Scott Price acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the purchase, the chief financial officer now owns 21,681 shares in the company, valued at approximately $272,963.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NewtekOne news, CEO Barry Sloane purchased 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average cost of $12.92 per share, with a total value of $64,600.00. Following the acquisition, the chief executive officer now owns 1,140,674 shares in the company, valued at $14,737,508.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Scott Price purchased 2,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the completion of the acquisition, the chief financial officer now owns 21,681 shares in the company, valued at approximately $272,963.79. The disclosure for this purchase can be found here. Insiders bought a total of 19,500 shares of company stock worth $265,165 in the last three months. 6.40% of the stock is currently owned by company 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.