Barry Sloane, serving as President, Chairman, and Chief Executive Officer of NewtekOne, Inc. (NASDAQ: NEWT), executed a significant acquisition of company equity on June 15, 2026. The transaction involved the purchase of 11,000 shares of common stock, totaling $156,260. These shares were acquired through a series of trades executed at prices ranging from $14.199 to $14.265 per share. This price range aligns closely with the stock's current trading level of $14.23. Following this acquisition, Sloane's direct ownership of NewtekOne common stock stands at 1,176,914 shares.
The insider purchase occurs against a backdrop of strong recent performance for the equity. Over the past twelve months, the stock has delivered a 44% return. It currently trades at a price-to-earnings (P/E) ratio of 6.36. According to analysis from InvestingPro, NEWT appears undervalued at present levels and is featured among the most undervalued equities in the market.
Concurrent with the insider activity, NewtekOne reported its financial results for the first quarter of 2026. The company posted earnings per share (EPS) of $0.43, which exceeded the analyst consensus estimate of $0.42. Despite this positive earnings surprise, the company did not meet revenue forecasts for the period. In addition to the earnings report, NewtekOne declared a quarterly cash dividend of $0.19 per share. This dividend will be payable on July 1, 2026, to shareholders of record as of June 24, 2026.
Strategic developments also continue to shape the company's operational landscape. NewtekOne announced a partnership with Payroc WorldAccess, LLC. This collaboration aims to deliver business and financial solutions to more than 190,000 active merchants within Payroc's network. Furthermore, the company appointed Fuad Capric as Chief Real-Time Payments Officer at its subsidiary, Newtek Bank. Capric's role is focused on enhancing the bank's real-time payments capabilities. These moves reflect ongoing efforts to expand financial services offerings and improve operational efficiency.