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

NewtekOne, Inc. (NASDAQ:NEWT) declared a quarterly dividend on Friday, June 28th, Wall Street Journal reports. Shareholders of record on Tuesday, July 9th will be given a dividend of 0.19 per share by the business services provider on Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Tuesday, July 9th.

NewtekOne has decreased its dividend payment 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 Trading Up 1.7 %

NEWT opened at $12.57 on Friday. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day simple moving average is $12.57 and its two-hundred day simple moving average is $12.30. NewtekOne has a 1-year low of $10.07 and a 1-year high of $19.36. The firm has a market capitalization of $310.86 million, a price-to-earnings ratio of 8.11 and a beta of 1.32.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $58.27 million during the quarter, compared to the consensus estimate of $49.06 million. NewtekOne had a net margin of 14.14% and a return on equity of 18.27%. Analysts expect that NewtekOne will post 1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEWT. Piper Sandler cut their price target on shares of NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 18th. B. Riley restated a “buy” rating and set a $18.00 price target (down previously from $19.00) on shares of NewtekOne in a report on Thursday, March 7th. Keefe, Bruyette & Woods cut their price target on shares of NewtekOne from $16.00 to $13.00 and set a “market perform” rating for the company in a report on Wednesday, March 20th. Finally, StockNews.com upgraded shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, NewtekOne presently has a consensus rating of “Hold” and an average target price of $14.50.

Insider Activity at NewtekOne

In other NewtekOne news, CFO Michael Scott Price purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was bought at an average price of $12.59 per share, with a total value of $25,180.00. Following the transaction, the chief financial officer now directly owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NewtekOne news, CFO Michael Scott Price purchased 2,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was bought at an average price of $12.59 per share, with a total value of $25,180.00. Following the transaction, the chief financial officer now directly owns 21,681 shares of the company’s stock, valued at approximately $272,963.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Sloane purchased 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was acquired at an average cost of $12.92 per share, with a total value of $64,600.00. Following the transaction, the chief executive officer now directly owns 1,140,674 shares in the company, valued at $14,737,508.08. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 19,500 shares of company stock worth $265,165. Insiders own 6.40% of the company’s stock.

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.