NewtekOne, Inc. (NASDAQ:NEWT) CEO Purchases $38,850.00 in Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane purchased 3,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $15,084,872.25. This represents a 0.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Barry Sloane also recently made the following trade(s):

• On Tuesday, November 26th, Barry Sloane bought 3,000 shares of NewtekOne stock. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $44,250.00.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $13.20 on Wednesday. NewtekOne, Inc. has a 1-year low of $10.07 and a 1-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. The stock has a market cap of $347.23 million, a PE ratio of 7.37 and a beta of 1.30. The stock’s fifty day simple moving average is $13.83 and its two-hundred day simple moving average is $13.08.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend is Tuesday, December 31st. NewtekOne’s payout ratio is 42.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEWT. FMR LLC raised its stake in shares of NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,835 shares during the period. International Assets Investment Management LLC bought a new stake in NewtekOne in the second quarter worth about $62,000. nVerses Capital LLC boosted its stake in NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of NewtekOne by 36.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 2,002 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of NewtekOne during the 3rd quarter valued at approximately $101,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Wall Street Analyst Weigh In

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

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.