NewtekOne, Inc. (NASDAQ:NEWT – Get Free Report) announced a quarterly dividend on Friday, June 12th. Shareholders of record on Wednesday, June 24th will be paid a dividend of 0.19 per share by the business services provider on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Wednesday, June 24th.
NewtekOne has decreased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. NewtekOne has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NewtekOne to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 29.3%.
NewtekOne Stock Performance
NASDAQ:NEWT opened at $13.91 on Monday. The firm’s 50-day moving average is $13.22 and its 200-day moving average is $12.66. The company has a market cap of $401.44 million, a price-to-earnings ratio of 6.13 and a beta of 1.29. The company has a debt-to-equity ratio of 6.76, a quick ratio of 0.64 and a current ratio of 0.64. NewtekOne has a 52-week low of $9.59 and a 52-week high of $14.91.
Insiders Place Their Bets
In related news, CEO Barry Sloane acquired 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were bought at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the acquisition, the chief executive officer owned 1,181,914 shares of the company’s stock, valued at $16,783,178.80. This trade represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 20,567 shares of company stock worth $288,496 over the last 90 days. 5.90% of the stock is currently owned by insiders.
Institutional Trading of NewtekOne
A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new position in shares of NewtekOne during the third quarter valued at $46,000. Quantbot Technologies LP bought a new stake in shares of NewtekOne in the 2nd quarter worth about $107,000. Dumont & Blake Investment Advisors LLC bought a new stake in shares of NewtekOne in the 1st quarter worth about $118,000. Cerity Partners LLC increased its position in shares of NewtekOne by 18.0% during the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after purchasing an additional 2,095 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of NewtekOne during the 3rd quarter worth about $191,000. 38.35% of the stock is currently owned by institutional investors.
About NewtekOne
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.
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