NewtekOne (NASDAQ:NEWT) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

NewtekOne (NASDAQ:NEWT) issued its quarterly earnings results on Wednesday. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03, Zacks reports. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%.

NewtekOne Stock Up 0.2 %

NEWT traded up $0.03 during trading on Wednesday, hitting $12.23. The stock had a trading volume of 238,981 shares, compared to its average volume of 151,237. The stock has a 50 day simple moving average of $12.84 and a two-hundred day simple moving average of $12.97. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. NewtekOne has a twelve month low of $10.07 and a twelve month high of $15.49. The company has a market capitalization of $321.71 million, a PE ratio of 6.83 and a beta of 1.31.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Tuesday, December 31st. NewtekOne’s payout ratio is currently 42.46%.

Analyst Ratings Changes

NEWT has been the subject of several recent analyst reports. Piper Sandler boosted their target price on NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price objective (up previously from $13.00) on shares of NewtekOne in a report on Friday, November 8th. Finally, B. Riley upped their price objective on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th.

Insider Activity

In related news, CEO Barry Sloane acquired 3,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,164,855 shares in the company, valued at $15,084,872.25. The trade was a 0.26 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 4,750 shares of company stock worth $61,368. Insiders own 6.50% 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.