NewtekOne (NASDAQ:NEWT) Posts Earnings Results, Meets Estimates

NewtekOne (NASDAQ:NEWT) posted its earnings results on Thursday. The business services provider reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65, FiscalAI reports. The company had revenue of $55.85 million during the quarter, compared to the consensus estimate of $80.01 million. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%.

NewtekOne Stock Performance

NewtekOne stock traded up $0.64 during mid-day trading on Thursday, reaching $14.31. The company’s stock had a trading volume of 312,365 shares, compared to its average volume of 339,856. NewtekOne has a 12-month low of $9.12 and a 12-month high of $14.91. The firm’s fifty day moving average price is $12.10 and its two-hundred day moving average price is $11.63. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $413.42 million, a P/E ratio of 6.42 and a beta of 1.23.

NewtekOne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 22nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.76 annualized dividend and a yield of 5.3%. NewtekOne’s dividend payout ratio (DPR) is 34.08%.

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane bought 3,595 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average price of $13.91 per share, for a total transaction of $50,006.45. Following the purchase, the chief executive officer directly owned 1,194,180 shares in the company, valued at $16,611,043.80. This trade represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Adam Schwartz acquired 2,247 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was purchased at an average price of $13.91 per share, with a total value of $31,255.77. Following the completion of the transaction, the insider directly owned 49,713 shares of the company’s stock, valued at $691,507.83. This trade represents a 4.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 21,845 shares of company stock worth $258,141 in the last three months. 6.70% of the stock is currently owned by insiders.

Institutional Trading of NewtekOne

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in NewtekOne in the third quarter valued at approximately $46,000. Quantbot Technologies LP purchased a new position in shares of NewtekOne during the 2nd quarter valued at about $107,000. Mercer Global Advisors Inc. ADV bought a new position in NewtekOne during the third quarter valued at approximately $191,000. BNP Paribas Financial Markets lifted its stake in shares of NewtekOne by 43.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,484 shares of the business services provider’s stock valued at $246,000 after acquiring an additional 6,489 shares during the last quarter. Finally, Royal Bank of Canada grew its position in 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 acquiring an additional 5,916 shares during the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEWT. Wall Street Zen raised NewtekOne from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Piper Sandler lifted their price objective on shares of NewtekOne from $12.50 to $13.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NewtekOne in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.

About NewtekOne

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.