NewtekOne, Inc. (NASDAQ:NEWT) to Issue $0.19 Quarterly Dividend

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Investors of record on Wednesday, July 9th will be paid a dividend of 0.19 per share by the business services provider on Monday, July 21st. This represents a $0.76 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Wednesday, July 9th.

NewtekOne has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NewtekOne to earn $2.12 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 35.8%.

NewtekOne Stock Up 1.2%

NASDAQ NEWT traded up $0.13 during mid-day trading on Friday, reaching $11.31. The stock had a trading volume of 222,165 shares, compared to its average volume of 191,747. NewtekOne has a 1 year low of $9.12 and a 1 year high of $15.49. The stock has a market cap of $297.91 million, a PE ratio of 5.89 and a beta of 1.22. The company has a fifty day moving average price of $10.71 and a 200 day moving average price of $11.82. The company has a debt-to-equity ratio of 6.16, a current ratio of 0.72 and a quick ratio of 0.72.

NewtekOne (NASDAQ:NEWT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. NewtekOne had a net margin of 14.34% and a return on equity of 18.81%. The company had revenue of $66.33 million during the quarter, compared to analyst estimates of $63.15 million. On average, research analysts expect that NewtekOne will post 1.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of NewtekOne from $15.00 to $13.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. Compass Point lifted their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th.

Insiders Place Their Bets

In other NewtekOne news, CEO Barry Sloane acquired 10,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was purchased at an average price of $10.86 per share, with a total value of $108,600.00. Following the transaction, the chief executive officer now directly owns 1,200,459 shares in the company, valued at approximately $13,036,984.74. The trade was a 0.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 36,500 shares of company stock valued at $406,175. Company insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On NewtekOne

A number of hedge funds have recently modified their holdings of NEWT. Royal Bank of Canada grew its position in shares of NewtekOne by 33.4% during the 1st quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider's stock valued at $282,000 after acquiring an additional 5,916 shares during the period. Jane Street Group LLC grew its position in shares of NewtekOne by 24.7% during the 1st quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider's stock valued at $439,000 after acquiring an additional 7,274 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of NewtekOne by 306.4% during the 1st quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider's stock valued at $2,012,000 after acquiring an additional 126,865 shares during the period. Institutional investors own 38.35% of the company's stock.

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.