Insider Buying: NewtekOne (NASDAQ:NEWT) Insider Buys 1,556 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) insider Frank Demaria acquired 1,556 shares of the stock in a transaction on Wednesday, January 14th. The shares were purchased at an average cost of $13.91 per share, with a total value of $21,643.96. Following the transaction, the insider directly owned 35,220 shares of the company’s stock, valued at approximately $489,910.20. This trade represents a 4.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NewtekOne Stock Down 0.3%

Shares of NASDAQ NEWT traded down $0.04 on Friday, reaching $14.55. 105,324 shares of the company’s stock traded hands, compared to its average volume of 331,449. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69. The company has a market cap of $420.35 million, a price-to-earnings ratio of 6.53 and a beta of 1.23. The business’s 50 day simple moving average is $11.39 and its two-hundred day simple moving average is $11.49. NewtekOne, Inc. has a 12 month low of $9.12 and a 12 month high of $14.77.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $74.94 million for the quarter, compared to analysts’ expectations of $78.31 million. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. As a group, equities research analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 22nd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, December 22nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.2%. NewtekOne’s dividend payout ratio (DPR) is currently 34.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $13.00 price target (up from $12.00) on shares of NewtekOne in a report on Friday, September 19th. Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of NewtekOne in a report on Wednesday, October 8th. Finally, Piper Sandler raised their price target on shares of NewtekOne from $12.50 to $13.00 and gave the company a “neutral” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Hedge Funds Weigh In On NewtekOne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEWT. Trust Co. of Vermont acquired a new stake in NewtekOne in the 2nd quarter valued at about $29,000. Advisory Services Network LLC acquired a new stake in NewtekOne during the 3rd quarter worth approximately $46,000. IFP Advisors Inc grew its position in NewtekOne by 74.9% in the 2nd 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 raised its holdings in NewtekOne by 728.7% during the second quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock worth $97,000 after purchasing an additional 7,571 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of NewtekOne in the 2nd quarter valued at about $107,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

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.