NewtekOne (NASDAQ:NEWT) Announces Earnings Results

NewtekOne (NASDAQ:NEWT) issued its quarterly earnings data on Thursday. The business services provider reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65, FiscalAI reports. The firm had revenue of $55.85 million for the quarter, compared to analyst estimates of $80.01 million. NewtekOne had a return on equity of 19.93% and a net margin of 15.59%.

NewtekOne Stock Performance

Shares of NASDAQ NEWT traded up $0.64 during trading on Thursday, reaching $14.31. 312,365 shares of the company traded hands, compared to its average volume of 339,856. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 5.69. The firm has a 50 day simple moving average of $12.10 and a 200-day simple moving average of $11.63. NewtekOne has a 52-week low of $9.12 and a 52-week high of $14.91. The stock has a market capitalization of $413.42 million, a PE ratio of 6.42 and a beta of 1.23.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 22nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.3%. The ex-dividend date was Monday, December 22nd. NewtekOne’s dividend payout ratio (DPR) is presently 34.08%.

Insiders Place Their Bets

In other NewtekOne news, insider Michael Adam Schwartz purchased 2,247 shares of NewtekOne stock in a transaction dated Wednesday, January 14th. The stock was purchased at an average price of $13.91 per share, with a total value of $31,255.77. Following the transaction, the insider directly owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barry Sloane acquired 3,595 shares of the stock in a transaction dated Wednesday, January 14th. The stock was acquired at an average price of $13.91 per share, for a total transaction of $50,006.45. Following the purchase, the chief executive officer directly owned 1,194,180 shares in the company, valued at approximately $16,611,043.80. This trade represents a 0.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 21,845 shares of company stock valued at $258,141. Company insiders own 6.70% of the company’s stock.

Institutional Trading of NewtekOne

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in NewtekOne during the 3rd quarter valued at approximately $46,000. Quantbot Technologies LP bought a new stake in NewtekOne during the second quarter worth approximately $107,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of NewtekOne in the 3rd quarter worth approximately $191,000. BNP Paribas Financial Markets increased its position in shares of NewtekOne by 43.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,484 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 6,489 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in NewtekOne by 33.4% in the first quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider’s stock worth $282,000 after buying an additional 5,916 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEWT shares. Piper Sandler boosted their price target on shares of NewtekOne from $12.50 to $13.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Wall Street Zen upgraded NewtekOne from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.50.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.