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

NewtekOne, Inc. (NASDAQ:NEWT) declared a quarterly dividend on Monday, September 16th, Wall Street Journal reports. Shareholders of record on Thursday, October 10th will be given a dividend of 0.19 per share by the business services provider on Monday, October 21st. This represents a $0.76 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date is Thursday, October 10th.

NewtekOne has decreased its dividend by an average of 29.5% per year over the last three years. NewtekOne has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NewtekOne to earn $2.08 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 36.5%.

NewtekOne Stock Performance

Shares of NASDAQ NEWT traded up $0.28 during trading on Wednesday, reaching $11.61. The stock had a trading volume of 225,635 shares, compared to its average volume of 157,641. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $287.16 million, a PE ratio of 7.54 and a beta of 1.30. NewtekOne has a one year low of $10.07 and a one year high of $16.20. The firm’s 50 day moving average price is $12.82 and its two-hundred day moving average price is $12.33.

NewtekOne (NASDAQ:NEWT) last released its earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. The firm had revenue of $81.37 million during the quarter, compared to analyst estimates of $59.68 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, research analysts forecast that NewtekOne will post 1.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, B. Riley lowered shares of NewtekOne from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $13.00 in a research note on Wednesday, September 4th.

Insider Buying and Selling

In other news, CEO Barry Sloane acquired 6,649 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $12.13 per share, for a total transaction of $80,652.37. Following the transaction, the chief executive officer now directly owns 1,147,323 shares in the company, valued at approximately $13,917,027.99. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by company 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.