Peter Mathison Downs, the Chief Lending Officer of NewtekOne, Inc. (NASDAQ:NEWT), recently purchased 750 shares of the company's common stock. The transaction, dated December 23, 2024, was valued at approximately $9,697, with each share priced at $12.93. The purchase comes as the stock trades below its Fair Value according to InvestingPro analysis, with the company maintaining a healthy 5.98% dividend yield and receiving a "GOOD" overall financial health score. Following this purchase, Downs holds a total of 92,129 shares directly. InvestingPro subscribers can access the comprehensive Pro Research Report for deeper insights into NewtekOne's valuation and financial metrics.
In other recent news, Newtek Business (NASDAQ:NEWT) Services Corp reported robust Q3 earnings, with earnings per share (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. Following these developments, B.Riley and Piper Sandler increased their price target for Newtek to $14.00 and $15.00 respectively, maintaining a neutral rating.
In a strategic move, NewtekOne extended the maturity date of its 8.125% Senior Notes from 2025 to 2027, providing the company with additional time to manage its financial obligations. These amended notes will be redeemable in full starting from November 2026 until the new maturity date in 2027.
Furthermore, Newtek is merging its technology unit, NTS, into Paltalk, a development expected to complete in Q1 2024. These recent developments indicate a robust financial position for Newtek, despite some challenges in the dynamic banking sector.
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