Barry Sloane, Chairman and CEO of NewtekOne, Inc. (NASDAQ:NEWT), a $337 million market cap financial holding company with a notable 5.98% dividend yield and 10-year track record of consecutive dividend payments, recently purchased 3,000 shares of the company's common stock. The transaction, which took place on December 23, 2024, was executed at a price of $12.946 per share, amounting to a total value of $38,838. Following this acquisition, Sloane's direct ownership of NewtekOne stands at 1,164,855 shares. According to InvestingPro analysis, NewtekOne is currently trading below its Fair Value, with a P/E ratio of 7.57. Discover more insights and 8 additional ProTips for NEWT, along with a comprehensive Pro Research Report, available on InvestingPro.
In other recent news, Newtek Business (NASDAQ:NEWT) Services Corp has been the subject of several analyst upgrades. B.Riley raised its price target on Newtek shares to $14.00, maintaining a neutral rating despite an improved outlook. This followed a thorough analysis of the company's third-quarter report, which highlighted an increase in the estimated earnings per share (EPS) for 2025 from $1.92 to $2.12. Piper Sandler also increased its price target for Newtek from $13.00 to $15.00, again maintaining a neutral rating.
In terms of other recent developments, NewtekOne, a subsidiary of Newtek, has extended the maturity date of its outstanding 8.125% Senior Notes from February 1, 2025, to February 1, 2027. This move provides the company with additional time to manage its financial obligations and potentially reduce near-term liquidity pressures.
NewtekOne also reported robust Q3 earnings with an EPS of $0.45, surpassing the consensus estimate of $0.43. The company confirmed its EPS guidance for 2024 to be between $1.85 and $2.05, and introduced its 2025 EPS guidance, projecting a range of $2.00 to $2.25.
Furthermore, Newtek's payment processing segment reported a pre-tax income rise of 32.5% to $5.3 million for the quarter. The company is also in the process of merging its technology unit, NTS, into Paltalk, with completion expected soon. These developments indicate a robust financial position for Newtek as it transitions into a financial holding company.
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