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

NewtekOne, Inc. (NASDAQ:NEWT) announced a quarterly dividend on Friday, December 13th,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 yield of 5.84%. The ex-dividend date is Tuesday, December 31st.

NewtekOne has decreased its dividend by an average of 29.5% annually over the last three years. NewtekOne has a payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Research 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 2.2 %

NASDAQ NEWT opened at $13.01 on Friday. NewtekOne has a 12 month low of $10.07 and a 12 month high of $15.49. The company has a market capitalization of $342.23 million, a P/E ratio of 7.27 and a beta of 1.30. The company’s 50 day simple moving average is $13.80 and its 200 day simple moving average is $13.08. The company has a debt-to-equity ratio of 4.98, a current ratio of 0.75 and a quick ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $83.12 million for the quarter, compared to analysts’ expectations of $61.76 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities research analysts expect that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the transaction, the chief executive officer now owns 1,164,855 shares of the company’s stock, valued at $15,084,872.25. The trade was a 0.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 8,750 shares of company stock valued at $119,568. Company insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEWT. 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 research report on Friday, November 8th. B. Riley raised their target price on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Piper Sandler boosted their price target on shares of NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 11th.

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.