Gregory L. Zink, a director at NewtekOne, Inc. (NASDAQ:NEWT), recently acquired 500 shares of the company's common stock. The company, currently valued at $339 million, trades at an attractive P/E ratio of 7.6x and appears undervalued according to InvestingPro analysis. The purchase took place on December 23, 2024, at a price of $12.75 per share, amounting to a total transaction value of $6,375. Following this acquisition, Zink's direct ownership in NewtekOne stands at 33,517 shares. Notably, the company maintains a solid 5.98% dividend yield and has sustained dividend payments for 10 consecutive years. This transaction highlights ongoing insider activity within the company, providing investors with insights into the stock's internal dynamics. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report, offering detailed analysis of NewtekOne's financial health and growth prospects.
In other recent news, Newtek Business (NASDAQ:NEWT) Services has been in the spotlight following several financial developments. The firm's earnings per share (EPS) for the third quarter outperformed the consensus estimate, coming in at $0.45. Looking ahead, the company has confirmed its EPS guidance for 2025, projecting a range of $2.00 to $2.25.
In response to these promising figures, both B.Riley and Piper Sandler have raised their price targets for Newtek, with B.Riley setting its target at $14.00 and Piper Sandler at $15.00. Despite the positive outlook, both firms maintain a neutral rating on the stock.
On the operational front, NewtekOne has extended the maturity date of its outstanding 8.125% Senior Notes from 2025 to 2027, providing the company with additional time to manage its financial obligations. In other developments, Newtek is merging its technology unit, NTS, into Paltalk, a step expected to be completed in the first quarter of 2024.
These recent developments reflect Newtek's robust financial position and potential for growth in the coming years. As the company transitions into a financial holding company, it continues to maintain strong key metrics, including a return on average assets of 2.8% and a net interest margin of 5.29%, outperforming industry counterparts.
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