B. Riley Analysts Reduce Earnings Estimates for NewtekOne, Inc. (NASDAQ:NEWT)

NewtekOne, Inc. (NASDAQ:NEWT) – Stock analysts at B. Riley reduced their Q3 2024 earnings per share (EPS) estimates for NewtekOne in a report issued on Wednesday, September 4th. B. Riley analyst B. Rowe now expects that the business services provider will earn $0.37 per share for the quarter, down from their previous forecast of $0.39. B. Riley currently has a “Neutral” rating and a $13.00 target price on the stock. The consensus estimate for NewtekOne’s current full-year earnings is $1.92 per share. B. Riley also issued estimates for NewtekOne’s FY2024 earnings at $1.78 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $1.92 EPS.

NewtekOne Trading Down 3.4 %

Shares of NEWT opened at $11.26 on Friday. The company has a market capitalization of $278.50 million, a P/E ratio of 7.26 and a beta of 1.30. NewtekOne has a one year low of $10.07 and a one year high of $17.58. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a 50-day moving average price of $13.01 and a 200 day moving average price of $12.32.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $81.37 million during the quarter, compared to the consensus estimate of $59.68 million. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. During the same quarter in the prior year, the business posted $0.26 earnings per share.

NewtekOne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date was Tuesday, July 9th. NewtekOne’s dividend payout ratio is presently 49.03%.

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 5,000 shares of NewtekOne stock in a transaction on Monday, June 17th. The shares were bought at an average price of $12.92 per share, with a total value of $64,600.00. Following the acquisition, the chief executive officer now directly owns 1,140,674 shares in the company, valued at approximately $14,737,508.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Michael Scott Price purchased 2,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the transaction, the chief financial officer now owns 21,681 shares of the company’s stock, valued at $272,963.79. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Barry Sloane bought 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the transaction, the chief executive officer now owns 1,140,674 shares in the company, valued at $14,737,508.08. The disclosure for this purchase can be found here. Insiders have bought a total of 14,649 shares of company stock valued at $183,352 in the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of NewtekOne during the second quarter worth $62,000. Cape Investment Advisory Inc. purchased a new stake in shares of NewtekOne during the fourth quarter worth $89,000. Kinloch Capital LLC purchased a new stake in shares of NewtekOne during the first quarter worth $148,000. Jump Financial LLC bought a new position in NewtekOne during the fourth quarter valued at about $155,000. Finally, BNP Paribas Financial Markets raised its holdings in NewtekOne by 124.5% during the first quarter. BNP Paribas Financial Markets now owns 14,354 shares of the business services provider’s stock valued at $158,000 after buying an additional 7,961 shares in the last quarter. 38.35% of the stock is owned by institutional investors.

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.