In a recent move demonstrating confidence in NewtekOne, Inc. (NASDAQ:NEWT), Chairman and CEO Barry Sloane acquired additional shares of the company's stock. The executive purchased shares worth approximately $141,000, with prices ranging from $14.007 to $14.179 per share.
Barry Sloane's latest transaction added a significant number of shares to his holdings, reinforcing his stake in the national commercial banks sector leader. This purchase comes as a notable investment by an insider, often seen as a positive signal to the market and investors about the company's future prospects.
The acquisition consisted of two separate transactions, with Sloane buying a total of 10,000 shares. The first transaction involved 428 shares at $14.007 each, while the second and larger transaction included 9,572 shares at a slightly higher price of $14.179 each.
Following the purchases, Sloane's total ownership in NewtekOne, Inc. stands at 1,130,674 shares. These transactions are part of the regular reporting that executives and directors of public companies are required to make, providing transparency into their trading activities regarding their own company's stock.
Investors often monitor insider buying as it can provide insights into how the company's leadership views the stock's valuation and future performance. With this recent purchase, Sloane has signaled a strong belief in NewtekOne's value and potential for growth.
InvestingPro Insights
NewtekOne, Inc. (NASDAQ:NEWT) has been capturing the attention of investors, and the recent insider buying by Chairman and CEO Barry Sloane only adds to the narrative. As we dig deeper into the company's performance and potential, certain metrics from InvestingPro stand out, painting a broader picture of what investors might consider.
With a market capitalization of approximately $348.75 million, NewtekOne is a noteworthy player in the national commercial banks sector. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at 9.36, which is adjusted to 9.54 for the last twelve months as of Q1 2024. This valuation metric suggests that the stock might be trading at a reasonable price relative to its earnings.
InvestingPro Data also highlights a robust revenue growth of 76.21% for the last twelve months as of Q1 2024, which is complemented by a quarterly revenue growth of 25.16% for Q1 2024. Such figures indicate a strong upward trajectory in the company's financial performance.
From the perspective of shareholder returns, NewtekOne has demonstrated a significant return over the last week with a 10.72% price total return, and over the last month, with a 24.24% price total return. This momentum is an important consideration for investors looking for growth opportunities.
InvestingPro Tips for NewtekOne include a high shareholder yield and a consistent track record of dividend payments over the last 10 years, which may be particularly appealing to income-focused investors. Additionally, the company's liquid assets exceed its short-term obligations, providing financial stability and flexibility.
For those seeking further insights and tips on NewtekOne, Inc., InvestingPro offers additional tips that could guide investment decisions. With the promo code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to an expanded list of actionable InvestingPro Tips for NewtekOne and other companies. Visit https://www.investing.com/pro/NEWT to explore the full range of data and analysis available.
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