NewtekOne (NASDAQ:NEWT) Director Acquires $10,430.00 in Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Gregory Zink acquired 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $10.43 per share, for a total transaction of $10,430.00. Following the completion of the transaction, the director owned 37,207 shares in the company, valued at approximately $388,069.01. The trade was a 2.76% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NewtekOne Stock Performance

Shares of NEWT stock opened at $10.18 on Friday. The firm has a market capitalization of $267.96 million, a price-to-earnings ratio of 4.57 and a beta of 1.23. The stock has a fifty day moving average of $11.36 and a 200 day moving average of $11.26. NewtekOne, Inc. has a 52 week low of $9.12 and a 52 week high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 5.95.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. NewtekOne had a net margin of 15.59% and a return on equity of 20.89%. The business had revenue of $74.94 million during the quarter, compared to analyst estimates of $78.31 million. As a group, research analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Tuesday, October 14th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Tuesday, October 14th. NewtekOne’s payout ratio is presently 34.08%.

Hedge Funds Weigh In On NewtekOne

A number of hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new stake in NewtekOne during the 2nd quarter valued at $29,000. IFP Advisors Inc boosted its position in shares of NewtekOne by 74.9% during the second quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock valued at $77,000 after buying an additional 2,901 shares during the last quarter. CWM LLC boosted its position in shares of NewtekOne by 728.7% during the second quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock valued at $97,000 after buying an additional 7,571 shares during the last quarter. Quantbot Technologies LP bought a new stake in NewtekOne in the 2nd quarter worth about $107,000. Finally, EP Wealth Advisors LLC purchased a new position in NewtekOne in the 1st quarter worth about $123,000. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NEWT. Piper Sandler lifted their price target on NewtekOne from $11.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $13.00 price objective (up previously from $12.00) on shares of NewtekOne in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Finally, B. Riley initiated coverage on NewtekOne in a research report on Monday, September 15th. They issued a “buy” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.25.

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.