Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Purchases 10,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) CEO Barry Sloane purchased 10,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $10.86 per share, for a total transaction of $108,600.00. Following the purchase, the chief executive officer now owns 1,200,459 shares in the company, valued at approximately $13,036,984.74. The trade was a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, May 19th, Barry Sloane purchased 10,000 shares of NewtekOne stock. The stock was acquired at an average cost of $11.23 per share, for a total transaction of $112,300.00.
• On Tuesday, May 13th, Barry Sloane purchased 10,000 shares of NewtekOne stock. The stock was acquired at an average cost of $11.61 per share, for a total transaction of $116,100.00.

NewtekOne Stock Down 1.7%

NASDAQ NEWT traded down $0.19 during trading hours on Friday, hitting $10.93. 136,688 shares of the company were exchanged, compared to its average volume of 193,386. The company has a 50 day moving average of $10.77 and a two-hundred day moving average of $12.31. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. NewtekOne, Inc. has a 52-week low of $9.12 and a 52-week high of $15.49. The firm has a market cap of $287.92 million, a price-to-earnings ratio of 6.11 and a beta of 1.26.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $66.33 million for the quarter, compared to the consensus estimate of $63.15 million. Equities research analysts anticipate that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $0.19 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.95%. NewtekOne's payout ratio is currently 39.58%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of NewtekOne by 199.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider's stock valued at $33,000 after acquiring an additional 1,703 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of NewtekOne in the 4th quarter valued at about $55,000. Nisa Investment Advisors LLC increased its holdings in shares of NewtekOne by 137.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider's stock valued at $56,000 after acquiring an additional 2,500 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in shares of NewtekOne by 66.2% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider's stock valued at $70,000 after acquiring an additional 2,184 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of NewtekOne in the 1st quarter valued at about $123,000. Hedge funds and other institutional investors own 38.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEWT. Keefe, Bruyette & Woods cut their price objective on NewtekOne from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Compass Point boosted their price objective on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, March 20th.

About NewtekOne

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.