Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) Director Purchases 1,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Richard J. Salute purchased 1,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $12.82 per share, for a total transaction of $12,820.00. Following the completion of the transaction, the director now directly owns 34,117 shares in the company, valued at $437,379.94. This trade represents a 3.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

NewtekOne Stock Performance

Shares of NEWT stock opened at $13.20 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. NewtekOne, Inc. has a 12-month low of $10.07 and a 12-month high of $15.49. The business’s 50 day moving average is $13.83 and its two-hundred day moving average is $13.08. The company has a market capitalization of $347.23 million, a P/E ratio of 7.37 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The firm had revenue of $83.12 million for the quarter, compared to analyst estimates of $61.76 million. During the same quarter last year, the firm posted $0.38 EPS. Analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 5.76%. NewtekOne’s dividend payout ratio (DPR) is 42.46%.

Analyst Ratings Changes

Several research firms recently commented on NEWT. B. Riley raised their target price on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Piper Sandler lifted their target price on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after buying an additional 1,835 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of NewtekOne in the second quarter valued at approximately $62,000. nVerses Capital LLC boosted its stake in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after acquiring an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in NewtekOne in the 3rd quarter valued at $101,000. Institutional investors and hedge funds own 38.35% 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.