NewtekOne, Inc. (NASDAQ:NEWT) Director Buys $13,950.00 in Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Gregory L. Zink acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $13.95 per share, for a total transaction of $13,950.00. Following the completion of the acquisition, the director now owns 33,017 shares of the company’s stock, valued at $460,587.15. This trade represents a 3.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NewtekOne Trading Down 0.1 %

NASDAQ:NEWT traded down $0.01 during mid-day trading on Monday, hitting $14.05. 12,544 shares of the company’s stock were exchanged, compared to its average volume of 158,532. NewtekOne, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.49. The company has a current ratio of 0.75, a quick ratio of 1.42 and a debt-to-equity ratio of 4.98. The firm has a market capitalization of $369.66 million, a P/E ratio of 7.85 and a beta of 1.29. The company has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $12.91.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data 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. The company had revenue of $83.12 million for the quarter, compared to analysts’ expectations 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 firm posted $0.38 earnings per share. As a group, research analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.76 annualized dividend and a yield of 5.41%. NewtekOne’s dividend payout ratio is currently 42.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted 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 acquiring an additional 22,167 shares in the last quarter. Barclays PLC boosted its position in shares of NewtekOne by 285.2% during the third quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock valued at $376,000 after buying an additional 22,360 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in NewtekOne during the third quarter worth $367,000. Wellington Management Group LLP purchased a new stake in NewtekOne in the 3rd quarter valued at $1,902,000. Finally, State Street Corp boosted its holdings in NewtekOne by 1.0% during the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock worth $5,911,000 after acquiring an additional 4,595 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. B. Riley lowered NewtekOne from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Piper Sandler raised their price objective on NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th.

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.