Equities Analysts Issue Forecasts for NewtekOne, Inc.’s Q3 2024 Earnings (NASDAQ:NEWT)

NewtekOne, Inc. (NASDAQ:NEWT) – Equities research analysts at B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of NewtekOne in a note issued to investors on Wednesday, August 7th. B. Riley analyst B. Rowe now anticipates that the business services provider will post earnings per share of $0.39 for the quarter, down from their previous forecast of $0.49. The consensus estimate for NewtekOne’s current full-year earnings is $1.92 per share.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Monday, August 5th. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. NewtekOne had a return on equity of 18.27% and a net margin of 14.14%. The business had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. During the same period in the prior year, the business posted $0.26 earnings per share.

Separately, StockNews.com raised shares of NewtekOne from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, NewtekOne currently has an average rating of “Hold” and an average target price of $14.50.

NewtekOne Trading Down 1.3 %

Shares of NASDAQ:NEWT traded down $0.16 during midday trading on Thursday, reaching $12.22. The company’s stock had a trading volume of 129,284 shares, compared to its average volume of 158,798. The firm has a market capitalization of $302.25 million, a price-to-earnings ratio of 7.89 and a beta of 1.30. NewtekOne has a fifty-two week low of $10.07 and a fifty-two week high of $18.68. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50 day moving average price of $13.22 and a two-hundred day moving average price of $12.26.

Institutional Investors Weigh In On NewtekOne

A number of institutional investors have recently added to or reduced their stakes in NEWT. Vanguard Group Inc. lifted its holdings in NewtekOne by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,368,607 shares of the business services provider’s stock worth $15,055,000 after acquiring an additional 17,505 shares during the period. American Century Companies Inc. boosted its holdings in shares of NewtekOne by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock worth $2,397,000 after buying an additional 40,738 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in NewtekOne by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 184,053 shares of the business services provider’s stock worth $2,314,000 after buying an additional 6,640 shares during the last quarter. Ancora Advisors LLC raised its position in NewtekOne by 43.5% in the first quarter. Ancora Advisors LLC now owns 130,933 shares of the business services provider’s stock worth $1,440,000 after acquiring an additional 39,659 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in NewtekOne by 1,280.0% in the fourth quarter. International Assets Investment Management LLC now owns 100,740 shares of the business services provider’s stock valued at $1,390,000 after acquiring an additional 93,440 shares during the last quarter. 38.35% of the stock is owned by institutional investors.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 5,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $12.92 per share, with a total value of $64,600.00. Following the completion of the purchase, the chief executive officer now owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Michael Scott Price acquired 2,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $12.59 per share, with a total value of $25,180.00. Following the acquisition, the chief financial officer now directly owns 21,681 shares of the company’s stock, valued at $272,963.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Barry Sloane bought 5,000 shares of the stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $12.92 per share, with a total value of $64,600.00. Following the acquisition, the chief executive officer now owns 1,140,674 shares of the company’s stock, valued at $14,737,508.08. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 19,500 shares of company stock worth $265,165. 6.40% of the stock is owned by corporate insiders.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.22%. The ex-dividend date was Tuesday, July 9th. NewtekOne’s payout ratio is currently 49.03%.

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.