NewtekOne (NASDAQ:NEWT) Posts Quarterly Earnings Results, Hits Estimates

NewtekOne (NASDAQ:NEWT) announced its quarterly earnings data on Thursday. The business services provider reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47, FiscalAI reports. NewtekOne had a net margin of 16.15% and a return on equity of 19.00%. The business had revenue of $90.05 million during the quarter, compared to analyst estimates of $75.00 million.

NewtekOne Trading Down 1.2%

Shares of NEWT traded down $0.18 during trading hours on Thursday, hitting $14.95. 208,370 shares of the stock traded hands, compared to its average volume of 233,412. The business has a fifty day moving average of $14.32 and a 200-day moving average of $13.28. The firm has a market capitalization of $431.92 million, a PE ratio of 6.59 and a beta of 1.27. NewtekOne has a 1-year low of $9.59 and a 1-year high of $15.69. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 6.76.

NewtekOne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 24th were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.1%. NewtekOne’s dividend payout ratio (DPR) is currently 33.48%.

Analyst Upgrades and Downgrades

NEWT has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Raymond James Financial upgraded shares of NewtekOne to a “hold” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of NewtekOne from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, NewtekOne presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average cost of $14.20 per share, with a total value of $71,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,181,914 shares in the company, valued at approximately $16,783,178.80. This represents a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have purchased 19,567 shares of company stock worth $275,026. 5.90% of the stock is owned by insiders.

Institutional Trading of NewtekOne

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in NewtekOne by 33.4% in the first quarter. Royal Bank of Canada now owns 23,639 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 5,916 shares in the last quarter. AQR Capital Management LLC increased its holdings in NewtekOne by 306.4% during the first quarter. AQR Capital Management LLC now owns 168,269 shares of the business services provider’s stock worth $2,012,000 after buying an additional 126,865 shares during the last quarter. Jane Street Group LLC raised its position in NewtekOne by 24.7% during the first quarter. Jane Street Group LLC now owns 36,676 shares of the business services provider’s stock worth $439,000 after acquiring an additional 7,274 shares in the last quarter. Rhumbline Advisers lifted its stake in NewtekOne by 6.1% in the second quarter. Rhumbline Advisers now owns 36,433 shares of the business services provider’s stock valued at $411,000 after acquiring an additional 2,108 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of NewtekOne in the 2nd quarter valued at about $107,000. Institutional investors own 38.35% of the company’s stock.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium?sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.