Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Purchases 10,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average price of $11.61 per share, for a total transaction of $116,100.00. Following the purchase, the chief executive officer now directly owns 1,180,459 shares of the company’s stock, valued at approximately $13,705,128.99. This trade represents a 0.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NewtekOne Stock Performance

Shares of NEWT opened at $11.19 on Thursday. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50 day moving average is $11.07 and its 200-day moving average is $12.52. NewtekOne, Inc. has a 12-month low of $9.12 and a 12-month high of $15.49. The stock has a market capitalization of $294.77 million, a P/E ratio of 6.25 and a beta of 1.26.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $66.33 million for the quarter, compared to analyst estimates of $63.15 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. Equities research analysts anticipate that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.79%. The ex-dividend date was Tuesday, April 15th. NewtekOne’s dividend payout ratio is presently 39.58%.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of NewtekOne by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock valued at $7,467,000 after purchasing an additional 10,933 shares during the period. Royce & Associates LP lifted its stake in NewtekOne by 16.2% during the first quarter. Royce & Associates LP now owns 520,035 shares of the business services provider’s stock valued at $6,220,000 after buying an additional 72,574 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NewtekOne by 68.3% in the fourth quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after buying an additional 113,261 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NewtekOne by 66.2% in the fourth quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider’s stock worth $3,239,000 after buying an additional 100,989 shares during the period. Finally, Northern Trust Corp increased its position in shares of NewtekOne by 9.6% in the fourth quarter. Northern Trust Corp now owns 210,102 shares of the business services provider’s stock worth $2,683,000 after acquiring an additional 18,407 shares in the last quarter. 38.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NEWT shares. Keefe, Bruyette & Woods cut their target price on NewtekOne from $15.00 to $13.00 and set a “market perform” rating for the company in a research report on Thursday, May 8th. Compass Point boosted their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note 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.