NewtekOne, Inc. (NASDAQ:NEWT) Declares $0.19 Quarterly Dividend

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Wednesday, June 25th, RTT News reports. Investors of record on Wednesday, July 9th will be paid a dividend of 0.19 per share by the business services provider on Monday, July 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.99%.

NewtekOne has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NewtekOne to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 35.8%.

NewtekOne Stock Performance

NEWT stock opened at $10.88 on Thursday. NewtekOne has a twelve month low of $9.12 and a twelve month high of $15.49. The firm has a market cap of $286.58 million, a price-to-earnings ratio of 5.67 and a beta of 1.22. The business’s fifty day simple moving average is $10.69 and its two-hundred day simple moving average is $11.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.16.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results 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. NewtekOne had a net margin of 14.34% and a return on equity of 18.81%. The firm had revenue of $66.33 million for the quarter, compared to analysts’ expectations of $63.15 million. Analysts predict that NewtekOne will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In other NewtekOne news, CEO Barry Sloane purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $11.23 per share, for a total transaction of $112,300.00. Following the completion of the purchase, the chief executive officer now owns 1,190,459 shares in the company, valued at $13,368,854.57. This represents a 0.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 36,500 shares of company stock worth $406,175 in the last 90 days. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Several hedge funds have recently modified their holdings of NEWT. Jane Street Group LLC grew its position in NewtekOne by 24.7% during the 1st quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider’s stock worth $439,000 after purchasing an additional 7,274 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of NewtekOne by 306.4% during the first quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider’s stock valued at $2,012,000 after buying an additional 126,865 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of NewtekOne by 33.4% in the 1st quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider’s stock valued at $282,000 after acquiring an additional 5,916 shares during the period. Institutional investors and hedge funds own 38.35% of the company’s stock.

Analyst Ratings Changes

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

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.