Richard Salute, a director at NewtekOne, Inc. (NASDAQ:NEWT), has recently made a purchase of 1,000 shares of the company’s common stock. The transaction, which took place on December 23, 2024, was executed at a price of $12.825 per share, amounting to a total value of $12,825. Following this acquisition, Salute’s direct ownership stands at 34,117 shares. This move reflects a continued confidence in the company’s prospects by its board member of the $337 million market cap company. According to InvestingPro analysis, NewtekOne maintains a GOOD financial health score and has consistently paid dividends for 10 consecutive years, currently yielding nearly 6%. The stock, which is currently trading below its Fair Value, has experienced a 6.5% decline over the past week. For deeper insights into NewtekOne’s valuation and 7 additional ProTips, visit InvestingPro.
In other recent news, Newtek Business (NASDAQ:NEWT) Services Corp has been under the spotlight following several developments. B.Riley raised its price target on Newtek shares to $14.00, maintaining a neutral rating, after a thorough analysis of the company’s third-quarter report and recent developments from its NewtekOne platform. The firm’s analyst cited an increase in the estimated earnings per share (EPS) for 2025, which aligns with the company’s guidance range.
NewtekOne, a subsidiary of Newtek, has also extended the maturity date of its outstanding 8.125% Senior Notes from 2025 to 2027, maintaining the original interest rate and principal amount. This strategic move provides NewtekOne with additional time to manage its financial obligations.
Meanwhile, Piper Sandler increased its price target for Newtek to $15.00, still holding a neutral rating, following the company’s robust Q3 earnings. The company reported an EPS of $0.45, surpassing the consensus estimate, and confirmed its 2025 EPS guidance range of $2.00 to $2.25.
These recent developments reflect Newtek’s solid financial position as it transitions into a financial holding company. The company’s key metrics, including a return on average assets of 2.8% and a net interest margin of 5.29%, outperform industry counterparts. Furthermore, Newtek’s payment processing segment reported a pre-tax income rise of 32.5% to $5.3 million for the third quarter.
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