NewtekOne (NASDAQ:NEWT) Releases FY24 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.85-2.05 for the period, compared to the consensus EPS estimate of $1.90. NewtekOne also updated its FY 2024 guidance to 1.850-2.050 EPS.

Analyst Upgrades and Downgrades

Separately, B. Riley cut NewtekOne from a buy rating to a neutral rating and cut their target price for the stock from $16.00 to $13.00 in a research note on Wednesday.

NewtekOne Trading Up 0.1 %

NASDAQ:NEWT opened at $11.67 on Friday. The stock has a market cap of $288.65 million, a price-to-earnings ratio of 7.52 and a beta of 1.30. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. The company’s 50 day moving average price is $13.05 and its 200-day moving average price is $12.33. NewtekOne has a 52 week low of $10.07 and a 52 week high of $17.58.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $81.37 million for the quarter, compared to analysts’ expectations of $59.68 million. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. During the same period in the prior year, the firm posted $0.26 EPS. On average, equities research analysts forecast that NewtekOne will post 1.92 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were issued a $0.19 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.76 annualized dividend and a yield of 6.51%. NewtekOne’s payout ratio is 49.03%.

Insiders Place Their Bets

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

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.