NewtekOne (NASDAQ:NEWT) Insider Acquires $31,255.77 in Stock

NewtekOne, Inc. (NASDAQ:NEWT) insider Michael Adam Schwartz purchased 2,247 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average price of $13.91 per share, for a total transaction of $31,255.77. Following the completion of the transaction, the insider directly owned 49,713 shares of the company’s stock, valued at $691,507.83. The trade was a 4.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NewtekOne Trading Down 0.3%

NASDAQ:NEWT traded down $0.04 on Friday, reaching $14.55. 105,324 shares of the company’s stock were exchanged, compared to its average volume of 331,449. NewtekOne, Inc. has a 52-week low of $9.12 and a 52-week high of $14.77. The business has a fifty day moving average of $11.39 and a 200-day moving average of $11.49. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69. The firm has a market capitalization of $420.35 million, a price-to-earnings ratio of 6.53 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. The firm had revenue of $74.94 million during the quarter, compared to analysts’ expectations of $78.31 million. As a group, analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 22nd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, December 22nd. NewtekOne’s dividend payout ratio is 34.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC acquired a new position in NewtekOne in the third quarter worth $46,000. North Reef Capital Management LP acquired a new stake in NewtekOne during the 3rd quarter worth $4,430,000. Mercer Global Advisors Inc. ADV acquired a new stake in NewtekOne in the 3rd quarter valued at approximately $191,000. Creative Planning acquired a new position in shares of NewtekOne in the third quarter valued at $516,000. Finally, Man Group plc grew its position in shares of NewtekOne by 7.5% during the 3rd quarter. Man Group plc now owns 43,145 shares of the business services provider’s stock worth $494,000 after purchasing an additional 3,007 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $13.00 price target (up previously from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Piper Sandler raised their price target on shares of NewtekOne from $12.50 to $13.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.50.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.