Craig Jeffry Brunet, a director at NewtekOne Inc. (NASDAQ:NEWT), a $334.6 million market cap financial services company currently trading at an attractive P/E ratio of 7.57x, recently acquired 500 shares of common stock, according to a Form 4 filing with the Securities and Exchange Commission. The transaction, which took place on December 23, 2024, involved a purchase price of approximately $12.83 per share, amounting to a total value of $6,413. Following this transaction, Brunet holds 1,000 shares directly. The purchase comes as NewtekOne maintains a notable 5.98% dividend yield and has sustained dividend payments for 10 consecutive years. According to InvestingPro analysis, which offers comprehensive insider trading patterns and 8 additional key insights, the stock appears to be trading below its Fair Value.
In other recent news, Newtek Business (NASDAQ:NEWT) Services has seen several positive developments. B.Riley upgraded its price target on Newtek shares to $14.00, citing an improved outlook based on the company's third-quarter report and recent developments from its NewtekOne platform. Despite this, the firm decided to maintain a neutral rating on the stock.
In addition, NewtekOne successfully amended the terms of its outstanding 8.125% Senior Notes, extending the maturity date from February 1, 2025, to February 1, 2027. This strategic move is seen as a proactive step to strengthen the company's financial position and potentially reduce near-term liquidity pressures.
Piper Sandler also adjusted its outlook on Newtek shares, increasing the price target to $15.00 while maintaining a neutral rating. This adjustment followed NewtekOne's reported earnings per share (EPS) of $0.45, which surpassed the consensus estimate.
Finally, NewtekOne reported a solid third-quarter performance with an EPS of $0.45, exceeding the street consensus. The company's management confirmed its 2025 EPS guidance range of $2.00 to $2.25, showcasing a robust financial position. All these developments reflect the recent progress and potential growth of Newtek Business Services.
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