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

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Monday, March 31st, RTT News reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.19 per share by the business services provider on Wednesday, April 30th. This represents a $0.76 annualized dividend and a dividend yield of 6.31%.

NewtekOne has decreased its dividend payment by an average of 37.8% per year over the last three years. NewtekOne has a payout ratio of 32.3% 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 Up 1.6 %

NASDAQ:NEWT traded up $0.19 during trading hours on Monday, hitting $12.05. The stock had a trading volume of 109,471 shares, compared to its average volume of 164,772. The company has a market cap of $316.81 million, a PE ratio of 6.73 and a beta of 1.33. The business has a 50 day simple moving average of $12.67 and a two-hundred day simple moving average of $13.00. NewtekOne has a 1-year low of $10.66 and a 1-year high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. The firm had revenue of $75.37 million for the quarter, compared to the consensus estimate of $69.55 million. Analysts predict that NewtekOne will post 1.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on NEWT. B. Riley boosted their price target on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Compass Point increased their target price on NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.50.

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.