NewtekOne (NASDAQ:NEWT) Updates FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS estimate of 1.890. The company issued revenue guidance of -. NewtekOne also updated its FY 2025 guidance to 2.000-2.250 EPS.

NewtekOne Trading Down 1.1 %

NASDAQ:NEWT traded down $0.15 on Friday, reaching $14.08. The company’s stock had a trading volume of 145,957 shares, compared to its average volume of 149,540. NewtekOne has a 12-month low of $10.07 and a 12-month high of $15.25. The stock has a 50 day moving average price of $12.56 and a 200 day moving average price of $12.77. The firm has a market cap of $365.52 million, a price-to-earnings ratio of 7.87 and a beta of 1.29. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.76 annualized dividend and a yield of 5.40%. NewtekOne’s dividend payout ratio (DPR) is currently 42.46%.

Analyst Upgrades and Downgrades

NEWT has been the subject of a number of recent analyst reports. B. Riley cut shares of NewtekOne from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $13.00 in a research report on Wednesday, September 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 price objective (up previously from $13.00) on shares of NewtekOne in a research report on Friday.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane bought 40,134 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the acquisition, the chief executive officer now directly owns 1,187,457 shares of the company’s stock, valued at $13,952,619.75. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 48,283 shares of company stock worth $569,472. 6.50% of the stock is currently owned by company insiders.

NewtekOne Company Profile

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.