Barry Sloane Acquires 3,000 Shares of NewtekOne, Inc. (NASDAQ:NEWT) Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were bought at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the acquisition, the chief executive officer now owns 1,161,855 shares in the company, valued at approximately $17,137,361.25. The trade was a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Barry Sloane also recently made the following trade(s):

• On Monday, September 23rd, Barry Sloane purchased 40,134 shares of NewtekOne stock. The shares were bought at an average cost of $11.75 per share, for a total transaction of $471,574.50.

NewtekOne Price Performance

Shares of NASDAQ:NEWT opened at $14.40 on Thursday. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. NewtekOne, Inc. has a 1-year low of $10.07 and a 1-year high of $15.49. The company has a market capitalization of $378.86 million, a P/E ratio of 8.04 and a beta of 1.29. The firm’s 50 day simple moving average is $13.30 and its two-hundred day simple moving average is $13.03.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The business had revenue of $83.12 million for the quarter, compared to the consensus estimate of $61.76 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Research analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

NewtekOne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders 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 5.28%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne’s dividend payout ratio is currently 42.46%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEWT. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price objective (up previously from $13.00) on shares of NewtekOne in a report on Friday, November 8th. B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Finally, Piper Sandler raised their price objective on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 11th.

Hedge Funds Weigh In On NewtekOne

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in NewtekOne by 253.5% during the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,835 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of NewtekOne during the second quarter valued at approximately $62,000. nVerses Capital LLC raised its position in shares of NewtekOne by 96.7% during the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after buying an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after buying an additional 2,002 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of NewtekOne during the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

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.