NewtekOne, Inc. (NASDAQ:NEWT) Plans Quarterly Dividend of $0.19

Key Points

• NewtekOne declared a quarterly dividend of $0.19 per share, payable October 1 to shareholders of record on September 24. The payment equates to an annualized dividend of $0.76 and a yield of approximately 6.2%.
• The dividend appears supported by earnings, with a current payout ratio of 33.3% and an expected future payout ratio of 36.4% based on projected next-year EPS of $2.09.
• NewtekOne shares rose 0.3% to $12.26, while institutional investors collectively own 38.35% of the company. The company recently reported quarterly EPS of $0.47 and revenue of $90.05 million, above estimates.

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) declared a quarterly dividend on Monday, September 14th. Shareholders of record on Thursday, September 24th will be given a dividend of 0.19 per share by the business services provider on Thursday, October 1st. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Thursday, September 24th.

NewtekOne has decreased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 1 years. NewtekOne has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NewtekOne to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 36.4%.

NewtekOne Trading Up 0.3%

Shares of NASDAQ:NEWT traded up $0.04 during trading on Monday, reaching $12.26. 157,864 shares of the company were exchanged, compared to its average volume of 238,255. The business's fifty day simple moving average is $13.57 and its 200-day simple moving average is $13.10. The company has a debt-to-equity ratio of 7.41, a current ratio of 0.65 and a quick ratio of 0.65. NewtekOne has a 12-month low of $9.59 and a 12-month high of $15.69. The firm has a market capitalization of $354.19 million, a PE ratio of 5.52 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. NewtekOne had a return on equity of 17.97% and a net margin of 15.57%.The business had revenue of $90.05 million during the quarter, compared to analyst estimates of $75.00 million. On average, research analysts anticipate that NewtekOne will post 1.75 EPS for the current year.

Institutional Investors Weigh In On NewtekOne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new stake in shares of NewtekOne during the second quarter worth $2,264,000. Huber Capital Management LLC acquired a new stake in NewtekOne during the 4th quarter worth about $978,000. Segall Bryant & Hamill LLC lifted its position in NewtekOne by 126.0% during the 1st quarter. Segall Bryant & Hamill LLC now owns 63,433 shares of the business services provider's stock worth $695,000 after acquiring an additional 35,369 shares during the period. Quantinno Capital Management LP grew its stake in NewtekOne by 98.6% during the 1st quarter. Quantinno Capital Management LP now owns 80,543 shares of the business services provider's stock valued at $882,000 after purchasing an additional 39,990 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of NewtekOne in the fourth quarter worth about $1,126,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

About NewtekOne

NewtekOne, Inc is a financial holding company that provides banking and business services primarily to small and medium-sized businesses and their owners. The company is the parent of Newtek Bank, N.A., a nationally chartered bank that offers commercial lending, business deposit accounts, treasury management and other financial products.

Newtek Bank's lending activities include Small Business Administration (SBA) loans, commercial real estate financing and other business loans. Through its banking platform and affiliated operating companies, NewtekOne also provides services such as electronic payment processing, payroll, insurance and technology solutions designed to support the financial and operational needs of business customers.

The company was founded in 1999 and operated for many years as Newtek Business Services Corp., a business development company focused on providing financing and business services to small businesses.

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