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

NewtekOne, Inc. (NASDAQ:NEWT) declared a quarterly dividend on Monday, September 14th. Stockholders of record on Thursday, September 24th will be paid a dividend of 0.19 per share by the business services provider on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Thursday, September 24th.

NewtekOne has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. NewtekOne has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NewtekOne to earn $2.09 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 36.4%.

NewtekOne Stock Performance

NASDAQ NEWT opened at $12.26 on Tuesday. The company has a fifty day simple moving average of $13.53 and a 200 day simple moving average of $13.10. NewtekOne has a 12-month low of $9.59 and a 12-month high of $15.69. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 7.41. The company has a market cap of $354.13 million, a P/E ratio of 5.52 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. The firm had revenue of $90.05 million during the quarter, compared to analysts’ expectations of $75.00 million. Sell-side analysts predict that NewtekOne will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NEWT shares. Piper Sandler raised their target price on NewtekOne from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Wall Street Zen downgraded NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. B. Riley Financial dropped their price objective on NewtekOne from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, August 31st. Zacks Research cut NewtekOne from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Raymond James Financial raised shares of NewtekOne to a “hold” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NewtekOne presently has an average rating of “Hold” and an average price target of $16.33.

About NewtekOne

NewtekOne, Inc is a financial holding company that provides banking and business services primarily to small and medium-sized businesses and their owners. The company is the parent of Newtek Bank, N.A., a nationally chartered bank that offers commercial lending, business deposit accounts, treasury management and other financial products.

Newtek Bank’s lending activities include Small Business Administration (SBA) loans, commercial real estate financing and other business loans. Through its banking platform and affiliated operating companies, NewtekOne also provides services such as electronic payment processing, payroll, insurance and technology solutions designed to support the financial and operational needs of business customers.

The company was founded in 1999 and operated for many years as Newtek Business Services Corp., a business development company focused on providing financing and business services to small businesses.