Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Buys 2,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane bought 2,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $10.39 per share, for a total transaction of $20,780.00. Following the purchase, the chief executive officer now owns 1,202,459 shares of the company’s stock, valued at $12,493,549.01. This trade represents a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 29th, Barry Sloane acquired 10,000 shares of NewtekOne stock. The shares were bought at an average cost of $10.86 per share, for a total transaction of $108,600.00.
• On Monday, May 19th, Barry Sloane bought 10,000 shares of NewtekOne stock. The stock was bought at an average cost of $11.23 per share, with a total value of $112,300.00.
• On Tuesday, May 13th, Barry Sloane purchased 10,000 shares of NewtekOne stock. The stock was bought at an average cost of $11.61 per share, for a total transaction of $116,100.00.

NewtekOne Trading Up 0.1%

NASDAQ:NEWT traded up $0.01 during mid-day trading on Monday, hitting $10.39. The company had a trading volume of 47,343 shares, compared to its average volume of 191,539. The company has a debt-to-equity ratio of 6.16, a quick ratio of 0.72 and a current ratio of 0.72. NewtekOne, Inc. has a fifty-two week low of $9.12 and a fifty-two week high of $15.49. The firm has a market cap of $273.67 million, a P/E ratio of 5.41 and a beta of 1.22. The business’s fifty day moving average is $10.65 and its two-hundred day moving average is $11.88.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. NewtekOne had a net margin of 14.34% and a return on equity of 18.81%. The business had revenue of $66.33 million for the quarter, compared to the consensus estimate of $63.15 million. As a group, research analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $0.19 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.76 annualized dividend and a yield of 7.31%. NewtekOne’s dividend payout ratio (DPR) is presently 39.58%.

Hedge Funds Weigh In On NewtekOne

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in NewtekOne by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after buying an additional 113,261 shares during the period. Bailard Inc. bought a new stake in shares of NewtekOne in the fourth quarter worth about $257,000. Bard Associates Inc. raised its position in shares of NewtekOne by 6.1% during the fourth quarter. Bard Associates Inc. now owns 127,657 shares of the business services provider’s stock worth $1,654,000 after purchasing an additional 7,303 shares during the period. Raymond James Financial Inc. bought a new position in shares of NewtekOne during the 4th quarter valued at about $1,125,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of NewtekOne by 27.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,821 shares of the business services provider’s stock valued at $1,479,000 after purchasing an additional 24,595 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.

Analyst Ratings Changes

NEWT has been the subject of several recent analyst reports. Compass Point increased their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Keefe, Bruyette & Woods lowered their target price on shares of NewtekOne from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th.

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.