Insider Buying: NewtekOne, Inc. (NASDAQ:NEWT) CEO Purchases 2,000 Shares of Stock

NewtekOne, Inc. (NASDAQ:NEWT – Get Free Report) CEO Barry Sloane bought 2,000 shares of NewtekOne stock in a transaction dated Friday, June 20th. The shares were purchased at an average cost of $10.39 per share, for a total transaction of $20,780.00. Following the completion of the transaction, the chief executive officer now owns 1,202,459 shares of the company’s stock, valued at approximately $12,493,549.01. This represents a 0.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Barry Sloane also recently made the following trade(s):

• On Thursday, May 29th, Barry Sloane bought 10,000 shares of NewtekOne stock. The shares were purchased at an average cost of $10.86 per share, for a total transaction of $108,600.00.
• On Monday, May 19th, Barry Sloane bought 10,000 shares of NewtekOne stock. The shares were purchased at an average cost of $11.23 per share, for a total transaction of $112,300.00.
• On Tuesday, May 13th, Barry Sloane bought 10,000 shares of NewtekOne stock. The shares were purchased at an average cost of $11.61 per share, for a total transaction of $116,100.00.

NewtekOne Stock Up 2.8%

NEWT stock opened at $10.67 on Tuesday. The company has a debt-to-equity ratio of 6.16, a current ratio of 0.72 and a quick ratio of 0.72. NewtekOne, Inc. has a 1-year low of $9.12 and a 1-year high of $15.49. The firm has a fifty day moving average price of $10.66 and a two-hundred day moving average price of $11.86. The firm has a market cap of $281.07 million, a price-to-earnings ratio of 5.56 and a beta of 1.22.

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NewtekOne (NASDAQ:NEWT – Get Free Report) last released its earnings results on Tuesday, May 6th. The business services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. NewtekOne had a net margin of 14.34% and a return on equity of 18.81%. The firm had revenue of $66.33 million during the quarter, compared to analyst estimates of $63.15 million. Research analysts predict that NewtekOne, Inc. will post 1.93 EPS for the current year.

NewtekOne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.76 annualized dividend and a yield of 7.12%. NewtekOne’s payout ratio is 39.58%.

Analysts Set New Price Targets

Several research firms recently issued reports on NEWT. Keefe, Bruyette & Woods cut their price target on shares of NewtekOne from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Thursday, May 8th. Compass Point upped their price target on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, March 20th.

Read Our Latest Stock Report on NewtekOne

Hedge Funds Weigh In On NewtekOne

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of NewtekOne by 199.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock worth $33,000 after acquiring an additional 1,703 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of NewtekOne during the fourth quarter worth about $55,000. Aquatic Capital Management LLC grew its position in shares of NewtekOne by 66.2% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock worth $70,000 after acquiring an additional 2,184 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of NewtekOne during the first quarter worth about $123,000. Finally, XTX Topco Ltd bought a new position in shares of NewtekOne during the first quarter worth about $126,000. Institutional investors own 38.35% of the company’s stock.

About NewtekOne

(Get Free Report)

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.

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