NewtekOne (NASDAQ:NEWT) Posts Earnings Results

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

NewtekOne Stock Up 0.8 %

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

NewtekOne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend was Tuesday, July 9th. NewtekOne’s dividend payout ratio is presently 49.03%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Barry Sloane acquired 5,000 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 1,140,674 shares in the company, valued at approximately $14,737,508.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael Scott Price bought 2,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were bought 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barry Sloane bought 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was purchased at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the chief executive officer now owns 1,140,674 shares of the company’s stock, valued at approximately $14,737,508.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 19,500 shares of company stock valued at $265,165. Insiders own 6.40% of the company’s stock.

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.