NewtekOne (NASDAQ:NEWT) Shares Pass Above 200-Day Moving Average - What's Next?

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.75 and traded as high as $11.99. NewtekOne shares last traded at $11.95, with a volume of 232,475 shares changing hands.

Wall Street Analysts Forecast Growth

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

NewtekOne Stock Up 2.3%

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 has a market capitalization of $314.76 million, a PE ratio of 6.22 and a beta of 1.21. The firm's fifty day moving average is $10.81 and its 200-day moving average is $11.75.

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

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Wednesday, July 9th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Wednesday, July 9th. NewtekOne's dividend payout ratio (DPR) is currently 39.58%.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane purchased 10,000 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was acquired at an average price of $10.86 per share, for a total transaction of $108,600.00. Following the acquisition, the chief executive officer directly owned 1,200,459 shares of the company's stock, valued at $13,036,984.74. This trade represents a 0.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have acquired 36,500 shares of company stock worth $406,175. 6.50% of the stock is currently owned by insiders.

Institutional Trading of NewtekOne

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in NewtekOne by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider's stock worth $7,467,000 after purchasing an additional 10,933 shares in the last quarter. Royce & Associates LP raised its stake in shares of NewtekOne by 16.2% during the 1st quarter. Royce & Associates LP now owns 520,035 shares of the business services provider's stock worth $6,220,000 after buying an additional 72,574 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NewtekOne by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider's stock worth $3,563,000 after buying an additional 113,261 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of NewtekOne by 66.2% in the 4th quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider's stock worth $3,239,000 after buying an additional 100,989 shares in the last quarter. Finally, Northern Trust Corp grew its stake in NewtekOne by 9.6% in the 4th quarter. Northern Trust Corp now owns 210,102 shares of the business services provider's stock valued at $2,683,000 after acquiring an additional 18,407 shares during the last quarter. Hedge funds and other institutional investors own 38.35% of the company's stock.

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.

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