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

NewtekOne, Inc. (NASDAQ:NEWT) declared 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 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 Performance

Shares of NEWT opened at $13.19 on Wednesday. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.49. The stock has a market capitalization of $347.03 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 quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day simple moving average is $13.83 and its 200 day simple moving average is $13.09.

NewtekOne (NASDAQ:NEWT) last posted its earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same period in the prior year, the company posted $0.38 EPS. Research analysts forecast that NewtekOne will post 1.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on NEWT. B. Riley lowered NewtekOne from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th. Piper Sandler upped 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a research report on Friday, November 8th.

Insider Transactions at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average cost of $14.75 per share, for a total transaction of $44,250.00. Following the acquisition, the chief executive officer now owns 1,161,855 shares in the company, valued at $17,137,361.25. The trade was a 0.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders bought 44,634 shares of company stock worth $535,640. 6.50% of the stock is currently owned by corporate 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.