NewtekOne (NASDAQ:NEWT) Issues FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.850-2.050 for the period, compared to the consensus earnings per share estimate of 1.900. The company issued revenue guidance of -. NewtekOne also updated its FY24 guidance to $1.85-2.05 EPS.

Analyst Upgrades and Downgrades

Separately, B. Riley cut shares of NewtekOne from a buy rating to a neutral rating and cut their price target for the stock from $16.00 to $13.00 in a report on Wednesday.

NewtekOne Stock Performance

NASDAQ NEWT opened at $11.26 on Friday. The company’s 50 day moving average is $13.01 and its 200-day moving average is $12.32. 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 12-month low of $10.07 and a 12-month high of $17.58. The firm has a market cap of $278.50 million, a P/E ratio of 7.26 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. The business had revenue of $81.37 million during the quarter, compared to analyst estimates of $59.68 million. During the same quarter in the previous year, the firm earned $0.26 EPS. Sell-side analysts predict that NewtekOne will post 1.92 earnings per share for the current year.

NewtekOne Announces Dividend

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

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane purchased 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were purchased 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 directly owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Michael Scott Price bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was bought 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 of the company’s stock, valued at approximately $272,963.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 cost of $12.92 per share, with a total value of $64,600.00. Following the purchase, the chief executive officer now owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 14,649 shares of company stock valued at $183,352. 6.40% of the stock is owned by corporate insiders.

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.