NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS estimate of 1.900. The company issued revenue guidance of -. NewtekOne also updated its FY24 guidance to $1.85-2.05 EPS.

NewtekOne Price Performance

NewtekOne stock traded down $0.02 during mid-day trading on Friday, hitting $11.64. The company’s stock had a trading volume of 7,192 shares, compared to its average volume of 155,598. The stock has a market capitalization of $287.90 million, a P/E ratio of 7.53 and a beta of 1.30. NewtekOne has a twelve month low of $10.07 and a twelve month high of $17.58. The stock’s fifty day moving average price is $13.05 and its two-hundred day moving average price is $12.33. 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 (NASDAQ:NEWT) last issued its 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. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. The business had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. During the same period in the previous year, the firm posted $0.26 EPS. Research analysts forecast that NewtekOne will post 1.92 earnings per share for the current year.

NewtekOne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date was Tuesday, July 9th. NewtekOne’s dividend payout ratio is presently 49.03%.

Wall Street Analysts Forecast Growth

Separately, B. Riley lowered NewtekOne from a buy rating to a neutral rating and reduced their target price for the company from $16.00 to $13.00 in a report on Wednesday.

Insider Activity

In related news, CEO Barry Sloane purchased 6,649 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $12.13 per share, for a total transaction of $80,652.37. Following the completion of the acquisition, the chief executive officer now owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael Scott Price purchased 2,000 shares of the stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the acquisition, the chief financial officer now directly owns 21,681 shares in the company, valued at approximately $272,963.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry Sloane purchased 6,649 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the completion of the acquisition, the chief executive officer now owns 1,147,323 shares in the company, valued at $13,917,027.99. The disclosure for this purchase can be found here. Insiders have acquired 14,649 shares of company stock worth $183,352 in the last 90 days. Company insiders own 6.40% 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.