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

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Stockholders of record on Thursday, October 10th will be paid 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 dividend yield of 6.55%. The ex-dividend date of this dividend is Thursday, October 10th.

NewtekOne has decreased its dividend payment by an average of 29.5% per year over the last three years. NewtekOne has a dividend payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. 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. 224,635 shares of the company traded hands, compared to its average volume of 157,636. The firm has a 50 day simple moving average of $12.82 and a 200-day simple moving average of $12.33. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. The stock has a market capitalization of $287.16 million, a PE ratio of 7.54 and a beta of 1.30. NewtekOne has a 52-week low of $10.07 and a 52-week high of $16.20.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $81.37 million for the quarter, compared to the consensus estimate of $59.68 million. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. During the same quarter last year, the firm posted $0.26 EPS. Equities research analysts anticipate that NewtekOne will post 1.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Barry Sloane purchased 6,649 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $12.13 per share, with a total value of $80,652.37. Following the completion of the acquisition, the chief executive officer now directly owns 1,147,323 shares of the company’s stock, valued at $13,917,027.99. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, B. Riley downgraded shares of NewtekOne from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 4th.

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.