NewtekOne (NASDAQ:NEWT) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

NewtekOne (NASDAQ:NEWT) posted its quarterly earnings results on Wednesday. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03, Zacks reports. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%.

NewtekOne Price Performance

NEWT traded up $0.03 on Wednesday, hitting $12.23. 238,981 shares of the company’s stock traded hands, compared to its average volume of 151,237. The company’s 50 day simple moving average is $12.84 and its 200-day simple moving average is $12.97. The firm has a market cap of $321.71 million, a price-to-earnings ratio of 6.83 and a beta of 1.31. NewtekOne has a one year low of $10.07 and a one year high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Tuesday, December 31st. NewtekOne’s dividend payout ratio is currently 42.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. B. Riley boosted their price target on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Piper Sandler raised their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 target price (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane bought 3,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the acquisition, the chief executive officer now owns 1,164,855 shares in the company, valued at $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have acquired 4,750 shares of company stock valued at $61,368. 6.50% of the stock is owned by company insiders.

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.