Key Points
- Director Richard Salute bought 900 shares at an average price of $11.28 on Dec. 8, a $10,152 purchase that raised his stake to 44,505 shares (a 2.06% increase), disclosed in an SEC filing.
- Attractive dividend yield: NewtekOne pays an annualized $0.76 dividend representing about a 6.7% yield with a payout ratio of 34.08%.
- Mixed financials and analyst view: The stock trades at a P/E of 5.08 with a $327M market cap; last quarter's EPS of $0.67 beat estimates while revenue missed, and analysts' consensus is "Hold" with an average target of $14.25.
NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) Director Richard Salute purchased 900 shares of the company's stock in a transaction dated Monday, December 8th. The shares were acquired at an average price of $11.28 per share, for a total transaction of $10,152.00. Following the purchase, the director directly owned 44,505 shares of the company's stock, valued at approximately $502,016.40. The trade was a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
NewtekOne Stock Performance
Shares of NewtekOne stock opened at $11.32 on Tuesday. The company has a 50 day moving average price of $10.65 and a 200 day moving average price of $11.23. The firm has a market capitalization of $327.03 million, a P/E ratio of 5.08 and a beta of 1.26. 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, Inc. has a 52 week low of $9.12 and a 52 week high of $14.50.
NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. The business had revenue of $74.94 million for the quarter, compared to analyst estimates of $78.31 million. Sell-side analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current year.
NewtekOne Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Shareholders 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 yield of 6.7%. NewtekOne's payout ratio is currently 34.08%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Trust Co. of Vermont purchased a new stake in shares of NewtekOne during the 2nd quarter worth about $29,000. Advisory Services Network LLC purchased a new position in NewtekOne during the third quarter worth approximately $46,000. IFP Advisors Inc grew its holdings in NewtekOne by 74.9% in the second quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider's stock valued at $77,000 after purchasing an additional 2,901 shares during the period. CWM LLC increased its position in shares of NewtekOne by 728.7% in the second quarter. CWM LLC now owns 8,610 shares of the business services provider's stock valued at $97,000 after buying an additional 7,571 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of NewtekOne during the 2nd quarter worth approximately $107,000. Institutional investors and hedge funds own 38.35% of the company's stock.
Analysts Set New Price Targets
NEWT has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of NewtekOne in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $13.00 price target (up previously from $12.00) on shares of NewtekOne in a report on Friday, September 19th. B. Riley assumed coverage on shares of NewtekOne in a research report on Monday, September 15th. They set a "buy" rating and a $18.00 price target for the company. Finally, Wall Street Zen downgraded shares of NewtekOne from a "hold" rating to a "sell" rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.25.
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About NewtekOne
(
Get Free Report)
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.
Further Reading
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