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

NewtekOne, Inc. (NASDAQ:NEWT) Director Craig Jeffry Brunet purchased 1,000 shares of NewtekOne stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $10.94 per share, for a total transaction of $10,940.00. Following the acquisition, the director now owns 2,500 shares in the company, valued at approximately $27,350. This trade represents a 66.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Craig Jeffry Brunet also recently made the following trade(s):

• On Thursday, March 20th, Craig Jeffry Brunet acquired 500 shares of NewtekOne stock. The stock was bought at an average price of $12.48 per share, for a total transaction of $6,240.00.

NewtekOne Stock Up 6.6%

NEWT stock traded up $0.68 during midday trading on Monday, reaching $11.06. 313,307 shares of the company were exchanged, compared to its average volume of 189,836. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. NewtekOne, Inc. has a 1-year low of $9.12 and a 1-year high of $15.49. The stock’s 50-day simple moving average is $11.11 and its 200 day simple moving average is $12.55. The company has a market cap of $290.78 million, a price-to-earnings ratio of 6.16 and a beta of 1.26.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $66.33 million for the quarter, compared to analysts’ expectations of $63.15 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. On average, equities analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.87%. NewtekOne’s payout ratio is 39.58%.

Hedge Funds Weigh In On NewtekOne

A number of institutional investors have recently modified their holdings of NEWT. Cambridge Investment Research Advisors Inc. boosted its position in shares of NewtekOne by 8.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,780 shares of the business services provider’s stock worth $153,000 after buying an additional 980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NewtekOne by 8.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider’s stock worth $176,000 after buying an additional 1,081 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of NewtekOne by 199.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock worth $33,000 after buying an additional 1,703 shares in the last quarter. Aquatic Capital Management LLC boosted its position in shares of NewtekOne by 66.2% in the 4th quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock worth $70,000 after buying an additional 2,184 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of NewtekOne by 137.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock worth $56,000 after buying an additional 2,500 shares in the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of NewtekOne from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Thursday. Compass Point lifted their target price on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th.

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.