NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 1.900. The company issued revenue guidance of -. NewtekOne also updated its FY24 guidance to $1.85-2.05 EPS.

NewtekOne Trading Down 3.4 %

NASDAQ NEWT opened at $11.26 on Friday. The firm has a market capitalization of $278.50 million, a PE ratio of 7.26 and a beta of 1.30. The stock’s 50 day moving average is $13.01 and its 200 day moving average is $12.32. NewtekOne has a twelve month low of $10.07 and a twelve month high of $17.58. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $81.37 million for the quarter, compared to the consensus estimate of $59.68 million. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. During the same period in the prior year, the firm earned $0.26 EPS. Research analysts forecast that NewtekOne will post 1.92 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were paid a $0.19 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.76 annualized dividend and a dividend yield of 6.75%. NewtekOne’s payout ratio is currently 49.03%.

Analysts Set New Price Targets

Separately, B. Riley downgraded NewtekOne from a buy rating to a neutral rating and reduced their price target for the company from $16.00 to $13.00 in a report on Wednesday.

Insider Buying and Selling

In other NewtekOne news, CEO Barry Sloane bought 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was acquired at an average price of $12.92 per share, with a total value of $64,600.00. Following the transaction, the chief executive officer now owns 1,140,674 shares in the company, valued at $14,737,508.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Michael Scott Price bought 2,000 shares of the stock in a transaction on Monday, June 17th. The shares were bought at an average price of $12.59 per share, with a total value of $25,180.00. Following the completion of the acquisition, the chief financial officer now owns 21,681 shares in the company, valued at $272,963.79. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry Sloane purchased 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $12.92 per share, with a total value of $64,600.00. Following the completion of the purchase, the chief executive officer now owns 1,140,674 shares in the company, valued at $14,737,508.08. The disclosure for this purchase can be found here. Insiders bought a total of 14,649 shares of company stock worth $183,352 in the last three months. Insiders own 6.40% 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.