NewtekOne (NASDAQ:NEWT) Releases FY24 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.85-2.05 for the period, compared to the consensus estimate of $1.90. NewtekOne also updated its FY 2024 guidance to 1.850-2.050 EPS.

NewtekOne Stock Down 3.4 %

Shares of NASDAQ:NEWT opened at $11.26 on Friday. 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 has a 52-week low of $10.07 and a 52-week high of $17.58. The stock’s fifty day simple moving average is $13.04 and its 200-day simple moving average is $12.32. The company has a market capitalization of $278.50 million, a P/E ratio of 7.26 and a beta of 1.30.

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

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.76 annualized dividend and a yield of 6.75%. NewtekOne’s dividend payout ratio (DPR) is presently 49.03%.

Analysts Set New Price Targets

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

Insider Transactions at NewtekOne

In other news, CFO Michael Scott Price acquired 2,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the acquisition, the chief financial officer now directly owns 21,681 shares in the company, valued at approximately $272,963.79. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Barry Sloane bought 6,649 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the completion of the purchase, the chief executive officer now owns 1,147,323 shares in the company, valued at $13,917,027.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Scott Price bought 2,000 shares of the stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $12.59 per share, with a total value of $25,180.00. Following the purchase, the chief financial officer now owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The disclosure for this purchase can be found here. Insiders have bought a total of 14,649 shares of company stock worth $183,352 in the last three months. 6.40% of the stock is currently owned by company insiders.

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.