NewtekOne (NASDAQ:NEWT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

NewtekOne (NASDAQ:NEWT) issued its quarterly earnings results on Monday. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02, Zacks reports. NewtekOne had a net margin of 14.14% and a return on equity of 18.27%. The business had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. During the same quarter last year, the company posted $0.26 earnings per share.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT traded up $0.10 during trading hours on Tuesday, hitting $12.60. The stock had a trading volume of 193,791 shares, compared to its average volume of 157,891. The stock’s fifty day simple moving average is $13.25 and its 200 day simple moving average is $12.26. NewtekOne has a 1-year low of $10.07 and a 1-year high of $19.36. The firm has a market capitalization of $311.65 million, a price-to-earnings ratio of 8.13 and a beta of 1.30. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.02 and a current ratio of 1.02.

NewtekOne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders 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 6.03%. NewtekOne’s payout ratio is currently 49.03%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.50.

Insider Buying and Selling at NewtekOne

In related news, CEO Barry Sloane acquired 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the purchase, the chief executive officer now directly owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Barry Sloane acquired 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the purchase, the chief executive officer now directly owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Scott Price acquired 2,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $12.59 per share, for a total transaction of $25,180.00. Following the purchase, the chief financial officer now directly owns 21,681 shares of the company’s stock, valued at $272,963.79. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 19,500 shares of company stock worth $265,165. 6.40% of the stock is owned by company insiders.

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.