NewtekOne, Inc. (NEWT) To Go Ex-Dividend on December 31st

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Investors 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 5.84%. The ex-dividend date is Tuesday, December 31st.

NewtekOne has decreased its dividend by an average of 29.5% annually over the last three years. NewtekOne has a payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NEWT stock opened at $13.01 on Friday. The company has a market cap of $342.23 million, a P/E ratio of 7.27 and a beta of 1.30. The business has a 50 day moving average of $13.80 and a two-hundred day moving average of $13.08. NewtekOne has a 52 week low of $10.07 and a 52 week high of $15.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data 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 return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $83.12 million during the quarter, compared to analyst estimates of $61.76 million. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, analysts anticipate that NewtekOne will post 1.93 EPS for the current year.

Analyst Upgrades and Downgrades

NEWT has been the topic of a number of analyst reports. B. Riley increased their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Piper Sandler raised their price target on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price objective (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

Insider Buying and Selling

In related news, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the purchase, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. The trade was a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased 8,750 shares of company stock valued at $119,568 over the last 90 days. 6.50% of the stock is currently owned by company 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.