Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) Director Buys 1,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Gregory L. Zink purchased 1,000 shares of NewtekOne stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $13.95 per share, for a total transaction of $13,950.00. Following the completion of the acquisition, the director now owns 33,017 shares of the company’s stock, valued at approximately $460,587.15. This trade represents a 3.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NewtekOne Price Performance

Shares of NEWT stock opened at $13.87 on Wednesday. NewtekOne, Inc. has a twelve month low of $10.07 and a twelve month high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The stock has a fifty day simple moving average of $12.88 and a two-hundred day simple moving average of $12.93. The stock has a market capitalization of $364.85 million, a price-to-earnings ratio of 7.72 and a beta of 1.29.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $83.12 million during the quarter, compared to analyst estimates of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, analysts predict 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 Monday, October 21st. Investors of record on Thursday, October 10th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.48%. The ex-dividend date was Thursday, October 10th. NewtekOne’s payout ratio is 42.46%.

Analysts Set New Price Targets

A number of research firms have weighed in on NEWT. B. Riley lowered NewtekOne from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Finally, Piper Sandler boosted their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th.

Institutional Trading of NewtekOne

Hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in shares of NewtekOne by 285.2% in the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 22,360 shares during the period. Geode Capital Management LLC boosted its position in NewtekOne by 4.0% during the third quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider’s stock valued at $7,149,000 after purchasing an additional 22,167 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in NewtekOne in the third quarter valued at about $367,000. Wellington Management Group LLP bought a new position in NewtekOne in the third quarter worth about $1,902,000. Finally, State Street Corp lifted its position in shares of NewtekOne by 1.0% during the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock valued at $5,911,000 after buying an additional 4,595 shares during the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

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.