Richard J. Salute Purchases 1,000 Shares of NewtekOne, Inc. (NASDAQ:NEWT) Stock

NewtekOne, Inc. (NASDAQ:NEWT) Director Richard J. Salute bought 1,000 shares of the stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $12.82 per share, with a total value of $12,820.00. Following the acquisition, the director now owns 34,117 shares of the company’s stock, valued at $437,379.94. This trade represents a 3.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NewtekOne Stock Up 1.6 %

Shares of NEWT stock opened at $13.20 on Wednesday. The stock’s fifty day moving average price is $13.83 and its 200 day moving average price is $13.08. NewtekOne, Inc. has a 1-year low of $10.07 and a 1-year high of $15.49. The company has a market cap of $347.23 million, a price-to-earnings ratio of 7.37 and a beta of 1.30. 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 (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $83.12 million for the quarter, compared to analyst estimates of $61.76 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, research analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current fiscal year.

NewtekOne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 5.76%. NewtekOne’s payout ratio is 42.46%.

Institutional Investors Weigh In On NewtekOne

Several institutional investors and hedge funds have recently made changes to their positions in NEWT. FMR LLC increased its position in shares of NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 1,835 shares during the period. International Assets Investment Management LLC purchased a new stake in NewtekOne during the 2nd quarter valued at about $62,000. nVerses Capital LLC raised its stake in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after purchasing an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after purchasing an additional 2,002 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in NewtekOne in the third quarter valued at approximately $101,000. 38.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have 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 report on Thursday, December 19th. 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 report on Friday, November 8th. Finally, Piper Sandler lifted their price objective 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.

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.