NewtekOne, Inc. (NASDAQ:NEWT) Director Richard J. Salute Purchases 1,000 Shares

NewtekOne, Inc. (NASDAQ:NEWT) Director Richard J. Salute purchased 1,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price 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 approximately $437,379.94. The trade was a 3.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NewtekOne Price Performance

Shares of NewtekOne stock opened at $13.20 on Thursday. NewtekOne, Inc. has a twelve month low of $10.07 and a twelve month high of $15.49. The firm has a market cap of $347.23 million, a P/E ratio of 7.37 and a beta of 1.30. The firm’s 50-day simple moving average is $13.83 and its 200-day simple moving average is $13.08. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75.

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

NewtekOne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Tuesday, December 31st. NewtekOne’s dividend payout ratio is currently 42.46%.

Hedge Funds Weigh In On NewtekOne

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,835 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of NewtekOne in the second quarter worth about $62,000. nVerses Capital LLC raised 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. raised its stake in shares of NewtekOne by 36.1% in the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after acquiring an additional 2,002 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of NewtekOne in the third quarter worth about $101,000. 38.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.