Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) Director Buys 1,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Richard J. Salute acquired 1,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $12.82 per share, for a total transaction of $12,820.00. Following the purchase, the director now owns 34,117 shares of the company’s stock, valued at $437,379.94. The trade was a 3.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NewtekOne Stock Performance

NewtekOne stock traded up $0.18 during trading hours on Monday, hitting $12.88. The company had a trading volume of 28,393 shares, compared to its average volume of 157,546. The firm has a 50-day moving average of $13.83 and a 200 day moving average of $13.08. The firm has a market cap of $338.81 million, a PE ratio of 7.20 and a beta of 1.30. NewtekOne, Inc. has a one year low of $10.07 and a one year high of $15.49. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, sell-side analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.90%. The ex-dividend date is Tuesday, December 31st. NewtekOne’s payout ratio is presently 42.46%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in NewtekOne by 1,146.0% during the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock worth $761,000 after purchasing an additional 56,154 shares during the period. Wellington Management Group LLP bought a new stake in shares of NewtekOne during the third quarter worth about $1,902,000. Marshall Wace LLP lifted its position in NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock valued at $3,401,000 after acquiring an additional 180,468 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in NewtekOne during the 2nd quarter valued at about $506,000. Finally, AQR Capital Management LLC bought a new stake in NewtekOne during the 2nd quarter worth approximately $403,000. Institutional investors own 38.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NEWT. B. Riley lifted their price objective on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 target price (up previously from $13.00) on shares of NewtekOne in a research report on Friday, November 8th. Finally, Piper Sandler boosted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 11th.

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.