Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Buys 3,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) CEO Barry Sloane purchased 3,000 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost 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 approximately $15,084,872.25. This represents a 0.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Barry Sloane also recently made the following trade(s):

• On Tuesday, November 26th, Barry Sloane purchased 3,000 shares of NewtekOne stock. The stock was acquired at an average cost of $14.75 per share, with a total value of $44,250.00.

NewtekOne Trading Up 2.3 %

Shares of NASDAQ:NEWT traded up $0.29 during midday trading on Monday, hitting $12.99. 198,038 shares of the stock traded hands, compared to its average volume of 158,305. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The business's 50 day moving average is $13.83 and its two-hundred day moving average is $13.08. The stock has a market capitalization of $341.70 million, a PE ratio of 7.26 and a beta of 1.30. NewtekOne, Inc. has a one year low of $10.07 and a one year high of $15.49.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.04. The business had revenue of $83.12 million during the quarter, compared to analyst estimates of $61.76 million. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. During the same quarter in the prior year, the company posted $0.38 EPS. As a group, research analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

NewtekOne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Tuesday, December 31st. NewtekOne's payout ratio is 42.46%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of NewtekOne by 285.2% in the 3rd quarter. Barclays PLC now owns 30,201 shares of the business services provider's stock worth $376,000 after purchasing an additional 22,360 shares during the period. Geode Capital Management LLC lifted its holdings in NewtekOne by 4.0% in the third quarter. Geode Capital Management LLC now owns 573,608 shares of the business services provider's stock worth $7,149,000 after buying an additional 22,167 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in NewtekOne during the 3rd quarter valued at approximately $367,000. Wellington Management Group LLP purchased a new position in shares of NewtekOne during the 3rd quarter worth approximately $1,902,000. Finally, State Street Corp grew its holdings in shares of NewtekOne by 1.0% during the 3rd quarter. State Street Corp now owns 474,419 shares of the business services provider's stock worth $5,911,000 after acquiring an additional 4,595 shares during the period. 38.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEWT. Piper Sandler lifted their price objective on NewtekOne from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed 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. Finally, B. Riley increased their price objective on NewtekOne from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday.

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.