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

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Stockholders of record on Wednesday, July 9th will be given 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 dividend yield of 7.00%.

NewtekOne has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

NASDAQ:NEWT opened at $10.86 on Wednesday. NewtekOne has a twelve month low of $9.12 and a twelve month high of $15.49. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.16. The stock's 50-day simple moving average is $10.67 and its 200 day simple moving average is $11.85. The firm has a market capitalization of $286.05 million, a PE ratio of 5.66 and a beta of 1.22.

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

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $13,036,984.74. This represents a 0.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have acquired 36,500 shares of company stock worth $406,175. Corporate insiders own 6.50% of the company's stock.

Hedge Funds Weigh In On NewtekOne

A number of institutional investors have recently modified their holdings of NEWT. AQR Capital Management LLC grew its holdings in shares of NewtekOne by 306.4% during the first quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider's stock valued at $2,012,000 after buying an additional 126,865 shares during the last quarter. Jane Street Group LLC boosted its stake in 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 purchasing an additional 7,274 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in 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 purchasing an additional 5,916 shares during the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.

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