NewtekOne, Inc. (NASDAQ:NEWT) Plans Quarterly Dividend of $0.19

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.19 per share by the business services provider on Monday, January 13th. This represents a $0.76 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Tuesday, December 31st.

NewtekOne has decreased its dividend by an average of 29.5% annually over the last three years. NewtekOne has a payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NewtekOne to earn $2.12 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 35.8%.

NewtekOne Trading Down 2.9 %

Shares of NewtekOne stock opened at $13.19 on Wednesday. The company has a market capitalization of $347.03 million, a P/E ratio of 7.37 and a beta of 1.30. The stock has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $13.09. NewtekOne has a 12-month low of $10.07 and a 12-month high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $83.12 million during the quarter, compared to analyst estimates of $61.76 million. During the same quarter in the prior year, the business posted $0.38 EPS. On average, sell-side analysts anticipate that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on NEWT shares. B. Riley cut shares of NewtekOne from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a research report on Wednesday, September 4th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price target (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th. Finally, Piper Sandler upped their price objective on NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th.

Insider Transactions at NewtekOne

In other news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was bought at an average price of $14.75 per share, with a total value of $44,250.00. Following the acquisition, the chief executive officer now owns 1,161,855 shares in the company, valued at $17,137,361.25. The trade was a 0.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased a total of 44,634 shares of company stock worth $535,640 in the last quarter. Insiders own 6.50% 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.