NewtekOne, Inc. (NASDAQ:NEWT) Director Buys $23,604.00 in Stock

Key Points

• Director Richard J. Salute purchased 2,100 shares of NewtekOne, Inc. (NASDAQ:NEWT) at an average cost of $11.24 per share, increasing his ownership to a total of 43,605 shares valued at approximately $490,120.
• NewtekOne reported $0.52 EPS for the last quarter, exceeding analyst expectations of $0.50, despite revenue coming in below estimates.
• The company declared a quarterly dividend of $0.19, with an annualized yield of 6.7% and a payout ratio of 37.81%.

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) Director Richard J. Salute acquired 2,100 shares of the stock in a transaction dated Friday, August 1st. The stock was acquired at an average price of $11.24 per share, with a total value of $23,604.00. Following the completion of the acquisition, the director owned 43,605 shares in the company, valued at approximately $490,120.20. The trade was a 5.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NewtekOne Stock Up 3.4%

NEWT stock traded up $0.39 on Friday, reaching $11.75. 59,516 shares of the company traded hands, compared to its average volume of 225,369. The firm has a fifty day simple moving average of $11.23 and a 200-day simple moving average of $11.53. The company has a market cap of $309.50 million, a P/E ratio of 5.85 and a beta of 1.22. NewtekOne, Inc. has a one year low of $9.12 and a one year high of $15.49. 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 released its quarterly earnings data on Monday, July 28th. The business services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The business had revenue of $70.20 million during the quarter, compared to analyst estimates of $73.88 million. NewtekOne had a net margin of 14.65% and a return on equity of 19.48%. Research analysts anticipate that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Wednesday, July 9th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.5%. The ex-dividend date was Wednesday, July 9th. NewtekOne's dividend payout ratio (DPR) is currently 37.81%.

Institutional Trading of NewtekOne

A number of institutional investors and hedge funds have recently modified their holdings of NEWT. Tower Research Capital LLC TRC boosted its position in shares of NewtekOne by 199.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider's stock valued at $33,000 after buying an additional 1,703 shares during the last quarter. Trust Co. of Vermont bought a new position in NewtekOne during the 2nd quarter valued at about $29,000. Aquatic Capital Management LLC boosted its holdings in shares of NewtekOne by 66.2% during 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. IFP Advisors Inc grew its stake in shares of NewtekOne by 74.9% in the second quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider's stock worth $77,000 after acquiring an additional 2,901 shares during the period. Finally, CWM LLC raised its holdings in shares of NewtekOne by 728.7% during the second quarter. CWM LLC now owns 8,610 shares of the business services provider's stock valued at $97,000 after purchasing an additional 7,571 shares during the last quarter. Institutional investors own 38.35% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler raised their target price on NewtekOne from $11.50 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods decreased their target price on NewtekOne from $13.00 to $12.00 and set a "market perform" rating for the company in a report on Friday, July 11th.

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.