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

NewtekOne (NASDAQ:NEWT) released its quarterly earnings results on Wednesday. The business services provider reported $0.69 earnings per share for the quarter, topping 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 Stock Performance

Shares of NewtekOne stock traded up $0.03 on Wednesday, hitting $12.23. 238,981 shares of the company’s stock were exchanged, compared to its average volume of 151,237. The company has a 50-day simple moving average of $12.84 and a 200-day simple moving average of $12.97. The stock has a market capitalization of $321.71 million, a PE ratio of 6.83 and a beta of 1.31. NewtekOne has a 1 year low of $10.07 and a 1 year high of $15.49. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75.

NewtekOne Dividend Announcement

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

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 3,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $12.95 per share, with a total value of $38,850.00. Following the acquisition, the chief executive officer now owns 1,164,855 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders purchased 4,750 shares of company stock valued at $61,368. Company insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

NEWT has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. B. Riley raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

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.