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

NewtekOne, Inc. (NASDAQ:NEWT) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.19 per share by the business services provider on Monday, January 13th. This represents a $0.76 annualized dividend and a yield of 5.76%. The ex-dividend date is Tuesday, December 31st.

NewtekOne has decreased its dividend payment by an average of 29.5% annually over the last three years. NewtekOne has a dividend payout ratio of 36.2% meaning 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 Down 2.9 %

Shares of NEWT stock traded down $0.40 during mid-day trading on Tuesday, hitting $13.19. 169,515 shares of the stock traded hands, compared to its average volume of 156,280. The stock’s fifty day moving average is $13.82 and its two-hundred day moving average is $13.10. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.49. The stock has a market cap of $346.96 million, a P/E ratio of 7.46 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NEWT shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 price target (up from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. B. Riley lowered shares of NewtekOne from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a research report on Wednesday, September 4th. Finally, Piper Sandler boosted their target price on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th.

Insider Buying and Selling at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average price of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the purchase, the chief executive officer now directly owns 1,161,855 shares of the company’s stock, valued at $17,137,361.25. The trade was a 0.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have bought 45,634 shares of company stock worth $547,020. 6.50% of the stock is currently owned by insiders.

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.