NewtekOne (NASDAQ:NEWT) Issues Earnings Results, Beats Estimates By $0.03 EPS

NewtekOne (NASDAQ:NEWT) posted its earnings results on Wednesday. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03, Zacks reports. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%.

NewtekOne Stock Up 0.2 %

NEWT traded up $0.03 on Wednesday, hitting $12.23. 238,981 shares of the company were exchanged, compared to its average volume of 151,237. The stock’s fifty day moving average is $12.84 and its 200-day moving average is $12.97. The company has a market cap of $321.71 million, a PE ratio of 6.83 and a beta of 1.31. 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 has a 12 month low of $10.07 and a 12 month high of $15.49.

NewtekOne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 6.21%. NewtekOne’s payout ratio is presently 42.46%.

Analyst Ratings Changes

Several analysts have weighed in on NEWT shares. Piper Sandler boosted their price objective on NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. B. Riley lifted 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. Finally, 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 report on Friday, November 8th.

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 3,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $12.95 per share, with a total value of $38,850.00. Following the completion of the transaction, the chief executive officer now owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 4,750 shares of company stock valued at $61,368 over the last 90 days. 6.50% of the stock is currently owned by 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.