NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

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

NewtekOne Trading Down 1.1 %

NASDAQ:NEWT traded down $0.15 during trading hours on Friday, reaching $14.08. The company’s stock had a trading volume of 145,957 shares, compared to its average volume of 149,540. The firm has a 50-day simple moving average of $12.56 and a 200-day simple moving average of $12.77. NewtekOne has a 1 year low of $10.07 and a 1 year high of $15.25. The firm has a market capitalization of $365.52 million, a price-to-earnings ratio of 7.87 and a beta of 1.29. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.42 and a current ratio of 1.42.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Thursday, October 10th were paid a $0.19 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 5.40%. NewtekOne’s dividend payout ratio is presently 42.46%.

Analyst Ratings Changes

A number of analysts have commented on NEWT shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a report on Friday. B. Riley lowered shares of NewtekOne from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th.

Insiders Place Their Bets

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

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.