NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS estimate of 1.890. The company issued revenue guidance of -. NewtekOne also updated its FY 2025 guidance to 2.000-2.250 EPS.

NewtekOne Price Performance

NEWT stock traded down $0.15 during mid-day trading on Friday, reaching $14.08. 145,957 shares of the company’s stock were exchanged, compared to its average volume of 149,540. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. NewtekOne has a 12-month low of $10.07 and a 12-month high of $15.25. The stock’s 50 day moving average is $12.56 and its 200 day moving average is $12.77. The company has a market cap of $365.52 million, a price-to-earnings ratio of 7.87 and a beta of 1.29.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 5.40%. NewtekOne’s dividend payout ratio is currently 42.46%.

Wall Street Analysts Forecast Growth

NEWT has been the topic of several recent analyst reports. B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a report on Wednesday, September 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a research note on Friday.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane bought 40,134 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $11.75 per share, with a total value of $471,574.50. Following the completion of the acquisition, the chief executive officer now directly owns 1,187,457 shares of the company’s stock, valued at $13,952,619.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have bought 48,283 shares of company stock worth $569,472. Corporate insiders own 6.50% 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.