NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 1.890. The company issued revenue guidance of -. NewtekOne also updated its FY 2025 guidance to 2.000-2.250 EPS.

NewtekOne Trading Down 1.1 %

NASDAQ:NEWT traded down $0.15 during mid-day trading on Friday, reaching $14.08. The company’s stock had a trading volume of 145,957 shares, compared to its average volume of 149,540. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $365.52 million, a P/E ratio of 7.87 and a beta of 1.29. The company’s fifty day simple moving average is $12.56 and its two-hundred day simple moving average is $12.77. NewtekOne has a twelve month low of $10.07 and a twelve month high of $15.25.

NewtekOne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 5.40%. NewtekOne’s payout ratio is 42.46%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th. Keefe, Bruyette & Woods reaffirmed 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.

Insider Activity

In other NewtekOne news, CEO Barry Sloane purchased 40,134 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $11.75 per share, with a total value 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 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 48,283 shares of company stock valued at $569,472. Company insiders own 6.50% of the company’s stock.

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.