Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Buys 3,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the transaction, the chief executive officer now directly owns 1,164,855 shares in the company, valued at $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Barry Sloane also recently made the following trade(s):

• On Tuesday, November 26th, Barry Sloane purchased 3,000 shares of NewtekOne stock. The stock was bought at an average cost of $14.75 per share, with a total value of $44,250.00.

NewtekOne Stock Up 1.7 %

NewtekOne stock traded up $0.21 during trading on Monday, hitting $12.91. 99,854 shares of the company were exchanged, compared to its average volume of 157,885. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98. The business’s 50 day moving average is $13.83 and its 200 day moving average is $13.08. NewtekOne, Inc. has a 52 week low of $10.07 and a 52 week high of $15.49. The company has a market capitalization of $339.60 million, a P/E ratio of 7.21 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The company had revenue of $83.12 million for the quarter, compared to analyst estimates of $61.76 million. During the same period last year, the firm earned $0.38 earnings per share. Analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Tuesday, December 31st. NewtekOne’s payout ratio is 42.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NEWT. FMR LLC raised its stake in shares of NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,835 shares during the period. International Assets Investment Management LLC purchased a new position in NewtekOne in the second quarter valued at about $62,000. nVerses Capital LLC grew its position in shares of NewtekOne by 96.7% during the 3rd quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 2,900 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of NewtekOne by 36.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of NewtekOne in the 3rd quarter worth approximately $101,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NEWT. B. Riley raised their target price on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler upped their target price on NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

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.