Gregory L. Zink Acquires 1,000 Shares of NewtekOne, Inc. (NASDAQ:NEWT) Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Gregory L. Zink bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $13.95 per share, with a total value of $13,950.00. Following the transaction, the director now directly owns 33,017 shares of the company’s stock, valued at $460,587.15. This represents a 3.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NewtekOne Stock Up 0.5 %

Shares of NEWT opened at $13.87 on Wednesday. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $364.85 million, a price-to-earnings ratio of 7.72 and a beta of 1.29. NewtekOne, Inc. has a 1 year low of $10.07 and a 1 year high of $15.49. The business’s 50 day simple moving average is $12.88 and its 200-day simple moving average is $12.93.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The company had revenue of $83.12 million for the quarter, compared to the consensus estimate of $61.76 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts expect 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 Monday, October 21st. Investors of record on Thursday, October 10th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend was Thursday, October 10th. NewtekOne’s payout ratio is 42.46%.

Institutional Investors Weigh In On NewtekOne

Several large investors have recently added to or reduced their stakes in NEWT. Marshall Wace LLP boosted its holdings in shares of NewtekOne by 200.3% in the 2nd quarter. Marshall Wace LLP now owns 270,549 shares of the business services provider’s stock worth $3,401,000 after purchasing an additional 180,468 shares during the period. Wellington Management Group LLP bought a new stake in NewtekOne in the third quarter worth $1,902,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in NewtekOne by 245.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock worth $1,137,000 after buying an additional 64,790 shares during the period. International Assets Investment Management LLC boosted its stake in NewtekOne by 1,146.0% during the third quarter. International Assets Investment Management LLC now owns 61,054 shares of the business services provider’s stock worth $761,000 after buying an additional 56,154 shares during the period. Finally, American Century Companies Inc. increased its position in NewtekOne by 27.2% during the second quarter. American Century Companies Inc. now owns 190,712 shares of the business services provider’s stock valued at $2,397,000 after acquiring an additional 40,738 shares during the last quarter. 38.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods restated 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 cut shares of NewtekOne from a “buy” rating to a “neutral” rating and cut their target price for the company from $16.00 to $13.00 in a research note on Wednesday, September 4th. Finally, Piper Sandler boosted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th.

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.