NewtekOne (NASDAQ:NEWT) Director Acquires $10,152.00 in Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Richard Salute purchased 900 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were acquired at an average price of $11.28 per share, for a total transaction of $10,152.00. Following the purchase, the director directly owned 44,505 shares of the company’s stock, valued at approximately $502,016.40. The trade was a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

NewtekOne Stock Performance

Shares of NewtekOne stock opened at $11.56 on Thursday. The company has a 50 day moving average price of $10.65 and a 200 day moving average price of $11.24. The firm has a market capitalization of $333.97 million, a P/E ratio of 5.18 and a beta of 1.26. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69. NewtekOne, Inc. has a 52 week low of $9.12 and a 52 week high of $14.44.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $74.94 million for the quarter, compared to analyst estimates of $78.31 million. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. Sell-side analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 22nd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Monday, December 22nd. NewtekOne’s dividend payout ratio is presently 34.08%.

Hedge Funds Weigh In On NewtekOne

Several institutional investors have recently made changes to their positions in NEWT. Patriot Financial Partners GP II L.P. purchased a new stake in NewtekOne during the third quarter worth $26,423,000. Vanguard Group Inc. boosted its stake in shares of NewtekOne by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,459,051 shares of the business services provider’s stock worth $16,706,000 after acquiring an additional 26,966 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NewtekOne by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 630,105 shares of the business services provider’s stock valued at $7,109,000 after purchasing an additional 14,413 shares in the last quarter. Marshall Wace LLP raised its holdings in NewtekOne by 42.9% in the 2nd quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock worth $7,034,000 after purchasing an additional 187,103 shares during the period. Finally, North Reef Capital Management LP purchased a new position in NewtekOne during the third quarter worth approximately $4,430,000. 38.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NEWT shares. Wall Street Zen cut NewtekOne from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $13.00 target price (up previously from $12.00) on shares of NewtekOne in a report on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Finally, B. Riley began coverage on shares of NewtekOne in a report on Monday, September 15th. They issued a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.25.

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.