Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Purchases 10,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT) CEO Barry Sloane bought 10,000 shares of NewtekOne stock in a transaction dated Monday, May 19th. The stock was purchased at an average cost of $11.23 per share, for a total transaction of $112,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,190,459 shares of the company’s stock, valued at approximately $13,368,854.57. The trade was a 0.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, May 13th, Barry Sloane bought 10,000 shares of NewtekOne stock. The stock was purchased at an average cost of $11.61 per share, for a total transaction of $116,100.00.

NewtekOne Stock Performance

Shares of NASDAQ:NEWT opened at $11.24 on Tuesday. The company has a market capitalization of $296.08 million, a price-to-earnings ratio of 6.31 and a beta of 1.26. NewtekOne, Inc. has a 52 week low of $9.12 and a 52 week high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The firm has a 50 day moving average of $10.99 and a 200 day moving average of $12.46.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Tuesday, May 6th. The business services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $66.33 million during the quarter, compared to the consensus estimate of $63.15 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. On average, sell-side analysts predict that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date was Tuesday, April 15th. NewtekOne’s payout ratio is presently 39.58%.

Analysts Set New Price Targets

NEWT has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price target on NewtekOne from $15.00 to $13.00 and set a “market perform” rating for the company in a research report on Thursday, May 8th. Compass Point boosted their price target on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, March 20th.

Institutional Investors Weigh In On NewtekOne

A number of large investors have recently made changes to their positions in NEWT. Jane Street Group LLC boosted its holdings in NewtekOne by 24.7% in the first quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider’s stock valued at $439,000 after purchasing an additional 7,274 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in NewtekOne by 246.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 38,542 shares of the business services provider’s stock valued at $461,000 after acquiring an additional 27,409 shares during the last quarter. AQR Capital Management LLC raised its holdings in NewtekOne by 306.4% in the 1st quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider’s stock valued at $2,012,000 after acquiring an additional 126,865 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in NewtekOne in the 1st quarter valued at about $123,000. Finally, Royal Bank of Canada increased its holdings in shares of NewtekOne by 33.4% during the 1st 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. 38.35% of the stock is owned by hedge funds and other institutional investors.

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.