NewtekOne, Inc. (NEWT) To Go Ex-Dividend on December 31st

NewtekOne, Inc. (NASDAQ:NEWT) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid 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 6.01%. The ex-dividend date of this dividend is Tuesday, December 31st.

NewtekOne has decreased its dividend by an average of 29.5% annually over the last three years. NewtekOne has a dividend payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings. 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 4.1 %

Shares of NASDAQ NEWT opened at $12.65 on Thursday. The stock’s fifty day moving average is $13.83 and its 200 day moving average is $13.09. The stock has a market capitalization of $332.82 million, a P/E ratio of 7.07 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. NewtekOne has a 52 week low of $10.07 and a 52 week high of $15.49.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $83.12 million during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $0.38 EPS. Sell-side analysts forecast that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average price of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the acquisition, the chief executive officer now owns 1,161,855 shares of the company’s stock, valued at approximately $17,137,361.25. This represents a 0.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have acquired 44,634 shares of company stock worth $535,640. 6.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEWT shares. B. Riley cut NewtekOne from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $13.00 in a report on Wednesday, September 4th. Piper Sandler boosted their price target on 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 reiterated a “market perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

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.