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

NewtekOne, Inc. (NASDAQ:NEWT) declared a quarterly dividend on Monday, September 16th, 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 5.94%. The ex-dividend date 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.9 %

Shares of NASDAQ NEWT opened at $12.80 on Wednesday. NewtekOne has a one year low of $10.07 and a one year high of $15.75. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. The business’s fifty day moving average price is $12.22 and its 200-day moving average price is $12.45. The stock has a market capitalization of $316.60 million, a PE ratio of 8.26 and a beta of 1.30.

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

Insider Activity at NewtekOne

In related news, CEO Barry Sloane acquired 40,134 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the purchase, the chief executive officer now owns 1,187,457 shares in the company, valued at $13,952,619.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have purchased 48,283 shares of company stock worth $569,472. 6.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, B. Riley cut 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 research report on Wednesday, September 4th.

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.