NewtekOne, Inc. (NEWT) to Issue Quarterly Dividend of $0.19 on October 21st

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Monday, September 16th, Wall Street Journal reports. Shareholders of record on Thursday, October 10th will be given a dividend of 0.19 per share by the business services provider on Monday, October 21st. This represents a $0.76 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend is Thursday, October 10th.

NewtekOne has decreased its dividend payment by an average of 29.5% per year over the last three years. NewtekOne has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NewtekOne to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 36.5%.

NewtekOne Trading Down 0.1 %

Shares of NASDAQ:NEWT opened at $12.69 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.75. The stock has a market cap of $313.87 million, a price-to-earnings ratio of 8.19 and a beta of 1.30. The business has a 50-day moving average price of $12.23 and a 200-day moving average price of $12.44.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $81.37 million during the quarter, compared to analyst estimates of $59.68 million. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. During the same period last year, the firm posted $0.26 EPS. Equities analysts predict that NewtekOne will post 1.9 EPS for the current year.

Insider Activity

In other news, CEO Barry Sloane acquired 6,649 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the completion of the transaction, the chief executive officer now owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 48,283 shares of company stock valued at $569,472 in the last three months. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, B. Riley cut NewtekOne from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a report on Wednesday, September 4th.

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.