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

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date is Tuesday, December 31st.

NewtekOne has decreased its dividend payment by an average of 29.5% per year over the last three years. NewtekOne has a dividend payout ratio of 35.7% meaning 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 Down 2.9 %

NASDAQ:NEWT traded down $0.40 during midday trading on Tuesday, reaching $13.19. 172,428 shares of the stock traded hands, compared to its average volume of 156,292. The stock has a market capitalization of $346.96 million, a PE ratio of 7.37 and a beta of 1.30. NewtekOne has a 12-month low of $10.07 and a 12-month high of $15.49. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50-day moving average of $13.82 and a two-hundred day moving average of $13.10.

NewtekOne (NASDAQ:NEWT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm 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 business posted $0.38 EPS. On average, equities analysts forecast that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Barry Sloane acquired 40,134 shares of the stock in a transaction on Monday, September 23rd. The shares were acquired at an average price of $11.75 per share, for a total transaction of $471,574.50. Following the transaction, the chief executive officer now owns 1,187,457 shares in the company, valued at approximately $13,952,619.75. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 45,634 shares of company stock valued at $547,020 in the last ninety days. Insiders own 6.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEWT. B. Riley downgraded shares of NewtekOne from a "buy" rating to a "neutral" rating and cut their price objective for the company from $16.00 to $13.00 in a report on Wednesday, September 4th. Piper Sandler upped 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 reissued a "market perform" rating and issued a $15.00 target price (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

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.