Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Acquires 6,649 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane bought 6,649 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $12.13 per share, with a total value of $80,652.37. Following the completion of the acquisition, the chief executive officer now directly owns 1,147,323 shares of the company’s stock, valued at approximately $13,917,027.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Barry Sloane also recently made the following trade(s):

• On Monday, June 17th, Barry Sloane acquired 5,000 shares of NewtekOne stock. The shares were bought at an average cost of $12.92 per share, with a total value of $64,600.00.

NewtekOne Stock Up 0.7 %

Shares of NEWT traded up $0.09 on Wednesday, hitting $12.22. 150,668 shares of the stock traded hands, compared to its average volume of 158,369. NewtekOne, Inc. has a one year low of $10.07 and a one year high of $18.68. The company has a market capitalization of $302.25 million, a PE ratio of 7.83 and a beta of 1.30. The business has a 50 day simple moving average of $13.13 and a 200 day simple moving average of $12.23. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.02 and a current ratio of 1.02.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $81.37 million during the quarter, compared to analysts’ expectations 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 previous year, the business earned $0.26 earnings per share. As a group, equities analysts forecast that NewtekOne, Inc. will post 1.92 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend was Tuesday, July 9th. NewtekOne’s payout ratio is presently 49.03%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in NewtekOne in the second quarter worth approximately $62,000. Cape Investment Advisory Inc. bought a new position in shares of NewtekOne during the 4th quarter valued at $89,000. Kinloch Capital LLC purchased a new position in shares of NewtekOne in the 1st quarter worth $148,000. Jump Financial LLC bought a new stake in shares of NewtekOne in the fourth quarter worth $155,000. Finally, BNP Paribas Financial Markets increased its position in NewtekOne by 124.5% during the first quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 7,961 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.