NewtekOne (NASDAQ:NEWT) Director Richard Salute Purchases 900 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Richard Salute acquired 900 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were acquired at an average price of $11.28 per share, with a total value of $10,152.00. Following the acquisition, the director owned 44,505 shares in the company, valued at $502,016.40. This trade represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NewtekOne Stock Performance

NEWT stock opened at $11.32 on Tuesday. NewtekOne, Inc. has a twelve month low of $9.12 and a twelve month high of $14.50. The firm has a market cap of $327.03 million, a price-to-earnings ratio of 5.08 and a beta of 1.26. The business’s fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $11.23. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm 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%. Analysts predict 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 was paid on Friday, October 24th. Stockholders of record on Tuesday, October 14th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.7%. NewtekOne’s dividend payout ratio (DPR) is 34.08%.

Hedge Funds Weigh In On NewtekOne

A number of large investors have recently added to or reduced their stakes in the company. Patriot Financial Partners GP II L.P. purchased a new stake in shares of NewtekOne during the third quarter valued at about $26,423,000. North Reef Capital Management LP bought a new position in shares of NewtekOne during the 3rd quarter worth approximately $4,430,000. AQR Capital Management LLC lifted its position in NewtekOne by 111.5% during the second quarter. AQR Capital Management LLC now owns 355,847 shares of the business services provider’s stock valued at $4,014,000 after acquiring an additional 187,578 shares during the last quarter. Marshall Wace LLP boosted its stake in NewtekOne by 42.9% in the second quarter. Marshall Wace LLP now owns 623,540 shares of the business services provider’s stock valued at $7,034,000 after acquiring an additional 187,103 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in NewtekOne by 190.5% in the second quarter. Prudential Financial Inc. now owns 212,228 shares of the business services provider’s stock valued at $2,394,000 after acquiring an additional 139,177 shares in the last quarter. 38.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NEWT shares. B. Riley began coverage on NewtekOne in a research note on Monday, September 15th. They issued a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen cut NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $13.00 price objective (up from $12.00) on shares of NewtekOne in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.25.

NewtekOne Company Profile

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.