NewtekOne, Inc. to Post Q4 2024 Earnings of $0.60 Per Share, B. Riley Forecasts (NASDAQ:NEWT)

NewtekOne, Inc. (NASDAQ:NEWT) – Equities researchers at B. Riley cut their Q4 2024 earnings per share (EPS) estimates for shares of NewtekOne in a report issued on Wednesday, September 4th. B. Riley analyst B. Rowe now anticipates that the business services provider will post earnings of $0.60 per share for the quarter, down from their previous forecast of $0.64. B. Riley has a “Neutral” rating and a $13.00 price objective on the stock. The consensus estimate for NewtekOne’s current full-year earnings is $1.90 per share.

NewtekOne Stock Performance

NASDAQ NEWT opened at $11.36 on Monday. The stock has a market cap of $280.98 million, a P/E ratio of 7.33 and a beta of 1.30. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a twelve month low of $10.07 and a twelve month high of $17.34. The company’s 50-day simple moving average is $12.99 and its 200 day simple moving average is $12.33.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. The firm had revenue of $81.37 million for the quarter, compared to analyst estimates of $59.68 million. During the same period in the previous year, the company posted $0.26 earnings per share.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date was Tuesday, July 9th. NewtekOne’s dividend payout ratio (DPR) is currently 49.03%.

Insider Activity at NewtekOne

In other NewtekOne news, CFO Michael Scott Price purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the transaction, the chief financial officer now directly owns 21,681 shares in the company, valued at $272,963.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Michael Scott Price purchased 2,000 shares of NewtekOne stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $12.59 per share, for a total transaction of $25,180.00. Following the transaction, the chief financial officer now directly owns 21,681 shares in the company, valued at $272,963.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Barry Sloane acquired 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was bought at an average price of $12.92 per share, with a total value of $64,600.00. Following the transaction, the chief executive officer now directly owns 1,140,674 shares in the company, valued at approximately $14,737,508.08. The disclosure for this purchase can be found here. Insiders bought 14,649 shares of company stock valued at $183,352 in the last ninety days. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Arkadios Wealth Advisors increased its stake in shares of NewtekOne by 2.9% in the 1st quarter. Arkadios Wealth Advisors now owns 47,279 shares of the business services provider’s stock valued at $520,000 after buying an additional 1,344 shares during the period. Rhumbline Advisers raised its holdings in NewtekOne by 12.0% during the 2nd quarter. Rhumbline Advisers now owns 33,665 shares of the business services provider’s stock worth $423,000 after purchasing an additional 3,617 shares during the last quarter. International Assets Investment Management LLC acquired a new position in NewtekOne during the 2nd quarter valued at about $62,000. Cape Investment Advisory Inc. bought a new position in shares of NewtekOne in the 4th quarter valued at about $89,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of NewtekOne by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,053 shares of the business services provider’s stock valued at $2,314,000 after purchasing an additional 6,640 shares during the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

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.