Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Acquires 3,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane purchased 3,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were bought at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the purchase, the chief executive officer now owns 1,161,855 shares of the company’s stock, valued at $17,137,361.25. This trade represents a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Barry Sloane also recently made the following trade(s):

• On Monday, September 23rd, Barry Sloane acquired 40,134 shares of NewtekOne stock. The shares were bought at an average cost of $11.75 per share, with a total value of $471,574.50.

NewtekOne Stock Down 2.0 %

NewtekOne stock traded down $0.29 during trading on Tuesday, reaching $14.47. 6,878 shares of the company’s stock were exchanged, compared to its average volume of 157,325. NewtekOne, Inc. has a 52-week low of $10.07 and a 52-week high of $15.49. The firm has a market cap of $380.71 million, a price-to-earnings ratio of 8.25 and a beta of 1.29. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. The company’s 50-day moving average is $13.19 and its two-hundred day moving average is $13.01.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Thursday, October 10th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.25%. The ex-dividend date was Thursday, October 10th. NewtekOne’s dividend payout ratio (DPR) is 42.46%.

Analyst Ratings Changes

A number of research analysts recently weighed in on NEWT shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 target price (up previously from $13.00) on shares of NewtekOne in a report on Friday, November 8th. B. Riley downgraded NewtekOne from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Finally, Piper Sandler boosted their target price on NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEWT. Vanguard Group Inc. grew its holdings in NewtekOne by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock valued at $15,055,000 after purchasing an additional 17,505 shares in the last quarter. Geode Capital Management LLC boosted its position in NewtekOne by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider’s stock valued at $7,149,000 after buying an additional 22,167 shares during the last quarter. State Street Corp grew its stake in shares of NewtekOne by 1.0% during the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after acquiring an additional 4,595 shares in the last quarter. Marshall Wace LLP increased its position in shares of NewtekOne by 200.3% during the second quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after acquiring an additional 180,468 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of NewtekOne by 27.2% in the second quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock worth $2,397,000 after acquiring an additional 40,738 shares in the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

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.