NewtekOne (NASDAQ:NEWT) Updates FY24 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.85-2.05 for the period, compared to the consensus earnings per share estimate of $1.90. NewtekOne also updated its FY 2024 guidance to 1.850-2.050 EPS.

Analyst Upgrades and Downgrades

Separately, B. Riley lowered NewtekOne from a buy rating to a neutral rating and lowered their price objective for the company from $16.00 to $13.00 in a research note on Wednesday.

NewtekOne Price Performance

Shares of NEWT opened at $11.26 on Friday. The firm has a market cap of $278.50 million, a price-to-earnings ratio of 7.26 and a beta of 1.30. The stock has a 50 day moving average of $13.04 and a 200-day moving average of $12.32. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a 52 week low of $10.07 and a 52 week high of $17.58.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Monday, August 5th. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $81.37 million during the quarter, compared to analyst estimates of $59.68 million. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. During the same quarter last year, the firm earned $0.26 EPS. As a group, analysts forecast that NewtekOne will post 1.92 EPS for the current year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.76 annualized dividend and a dividend yield of 6.75%. NewtekOne’s payout ratio is 49.03%.

Insider Buying and Selling

In related news, CEO Barry Sloane purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price 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 approximately $14,737,508.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Michael Scott Price purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $12.59 per share, with a total value of $25,180.00. Following the acquisition, 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 SEC, which is available at the SEC website. Also, CEO Barry Sloane bought 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were acquired at an average cost of $12.92 per share, for a total transaction of $64,600.00. Following the purchase, the chief executive officer now directly owns 1,140,674 shares in the company, valued at $14,737,508.08. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 14,649 shares of company stock valued at $183,352. 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.