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NewtekOne, Inc. - NEWT STOCK NEWS

Welcome to our dedicated page for NewtekOne news (Ticker: NEWT), a resource for investors and traders seeking the latest updates and insights on NewtekOne stock.

NewtekOne, Inc. (Nasdaq: NEWT) is a financial holding company that offers an extensive range of business and financial solutions to small and medium-sized businesses (SMBs) across the United States. Established in 1998, NewtekOne has built a robust business model centered around leveraging technology to deliver financial services effectively and efficiently.

NewtekOne operates through several reportable segments: Banking, Technology, NSBF, and Payments. The company provides comprehensive services including Business Lending, SBA Lending Solutions, Electronic Payment Processing, and Technology Solutions such as Cloud Computing, Data Backup, Storage, Retrieval, and IT Consulting. Additionally, they offer eCommerce, Accounts Receivable Financing, Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

The firm's financial condition is strong, evidenced by over $100 million in stockholders' equity and more than $160 million in revenues. NewtekOne has operated as a publicly traded company for over a decade and is currently under Sarbanes-Oxley regulation. The company prides itself on transparency, with fully accessible financial statements available online.

Recent achievements include significant growth in their SBA 7(a) loan program, where Newtek Bank closed a record $262.9 million of loans in Q4 2023, making it the largest SBA 7(a) lender by total approved dollar amount. NewtekOne's total loan closings reached $1.1 billion in 2023.

NewtekOne's proprietary technology, NewTracker, supports their cost-effective business model by providing a user-friendly interface for interacting with their subject matter experts in areas like Banking, Lending, Payments, Technology, Payroll, and Insurance. This system allows clients to access a single online dashboard for all their financial needs, ensuring a seamless and integrated experience.

The company's recent partnerships reflect its commitment to enhancing its service offerings. A notable collaboration with 1-800Accountant aims to provide digital bookkeeping, accounting, and tax advisory services, integrated with Newtek Bank’s online banking and payment processing functionalities.

NewtekOne’s operating model is unique in the financial sector, emphasizing digital solutions and minimizing the need for traditional branches. This innovative approach has allowed them to maintain growth and stability even during challenging economic times.

With a CET1 ratio of 16.5%, a total capital ratio of 19.6%, and a leverage ratio of 15.6%, NewtekOne is well-capitalized and poised for continued growth. The company forecasts an increase in annual EPS to a range of $1.80 to $2.00 per basic and diluted common share in 2024, up from $1.71 in 2023.

For more detailed information or to view their financial statements, visit their investor relations section at investor.newtekbusinessservices.com or contact Jayne Cavuoto at (212) 273-8179 or jcavuoto@newtekone.com.

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Newtek Business Services Corp. (NASDAQ: NEWT) announced a third quarter 2022 cash dividend of $0.65 per share, payable on September 30, 2022, to shareholders on record as of September 20, 2022. The company's board aims to maintain a dividend policy of distributing 90-100% of its annual taxable income. Newtek, an internally managed business development company, provides comprehensive financial solutions to small- and medium-sized businesses across the U.S. since 1999.

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Newtek Business Services Corp (NASDAQ: NEWT) announced a third quarter 2022 cash dividend of $0.65 per share, payable on September 30, 2022, for shareholders of record by September 20, 2022. CEO Barry Sloane expressed confidence in maintaining a full year dividend forecast between $2.40 and $2.90 per share, highlighting the successful business model. Although margins on SBA 7(a) loans face pressure from lagging Prime rate increases, an improvement in margins was noted since July. Newtek awaits regulatory decisions regarding its acquisition of the National Bank of New York City.

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Newtek Business Services Corp (NASDAQ: NEWT) announced the pricing of its twelfth small business loan securitization, offering $116.21 million in Unguaranteed SBA 7(a) Loan-Backed Notes, Series 2022-1. The offering includes $95.38 million of Class A Notes and $20.83 million of Class B Notes, rated ‘A- (sf)’ and ‘BBB- (sf)’ by S&P Global Ratings, respectively. The notes have a 79.5% anticipated advance rate and will adjust monthly according to SOFR. The company anticipates creating approximately $29 million in new cash flow post-securitization closure, expected around September 7, 2022.

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Newtek Business Services reported a significant increase in SBA 7(a) loan fundings, achieving $200.6 million in Q2 2022, up 112.8% year-over-year. However, total investment income fell 47.5% to $19.2 million, influenced by the absence of non-recurring Paycheck Protection Program (PPP) fee income. Net investment loss was $(2.3) million, or $(0.09) per share, a substantial decline from $15.5 million, or $0.69 per share, in Q2 2021. The company forecasts an annual dividend of $2.40 to $2.90 per share, maintaining confidence in its growth trajectory amid challenging market conditions.

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Newtek Business Services Corp. (NASDAQ: NEWT) has outlined financial targets for 2023, contingent upon receiving regulatory approvals for its acquisition of the National Bank of New York City (NBNYC). The illustration is available on their corporate website under the 'Investor Relations' section and will be discussed in detail during the upcoming Q2 earnings call on August 4, 2022, at 8:30 am ET. Newtek aims to enhance its business solutions for small- and medium-sized businesses (SMBs) across the U.S., leveraging state-of-the-art products since 1999.

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Newtek Business Services Corp. (NASDAQ: NEWT) forecasts a total dividend of $1.00 to $1.50 per share for Q3 and Q4 2022, with payments expected by December 31, 2022, subject to board approval. Year-to-date, the company has paid $1.40 per share in dividends and estimates a full-year dividend of $2.40 to $2.90 per share. CEO Barry Sloane indicated ongoing efforts to acquire the National Bank of New York City, pending regulatory approvals, which would enable a transition to a bank holding company structure.

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Newtek Business Services Corp. (NASDAQ: NEWT) announced that Barry Sloane, its Chairman, President, and CEO, will hold one-on-one meetings at the KBW Community Bank Investor Conference in New York City from August 2-3, 2022. Attendees interested in meeting with Mr. Sloane can contact their KBW representative or Jayne Cavuoto, Director of Investor Relations. Newtek offers a range of financial solutions to small- and medium-sized businesses, driving growth across various sectors since 1999.

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Newtek Business Services Corp. (NASDAQ: NEWT) filed a preliminary proxy statement on July 20, 2022, requesting shareholder approval to sell shares below the current net asset value per share. This annual request is part of Newtek's ongoing strategy, aiming for a transition to a bank holding company following overwhelming 89% shareholder approval at the June 1 meeting. The company continues its pursuit of acquiring the National Bank of New York City, pending necessary regulatory approvals.

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Newtek Business Services Corp (Nasdaq: NEWT) will report its Q2 2022 financial results on August 3, 2022. A conference call is scheduled for August 4, 2022, at 8:30 am ET, featuring CEO Barry Sloane and CAO Nicholas Leger. Participants must register online to attend. Newtek offers various financial solutions to small and medium-sized businesses, including lending, payment processing, and technology services, aiming to enhance SMB growth nationwide.

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Newtek Business Services Corp. (NASDAQ: NEWT) announced record SBA 7(a) loan fundings of $200.6 million for Q2 2022, a 112.7% increase year-over-year. For the first half, loan fundings totaled $363.9 million, up 83.2%. The company reaffirmed its net investment income forecast, projecting a loss between ($0.01) and $0.00 per share, and adjusted net investment income of $1.40 to $1.50 per share. CEO Barry Sloane expressed confidence in the team’s performance and highlighted expectations for improved productivity and regulatory approval for acquiring the National Bank of New York City, enhancing their lending capabilities.

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FAQ

What is the current stock price of NewtekOne (NEWT)?

The current stock price of NewtekOne (NEWT) is $12.1 as of January 10, 2025.

What is the market cap of NewtekOne (NEWT)?

The market cap of NewtekOne (NEWT) is approximately 318.3M.

What services does NewtekOne, Inc. offer?

NewtekOne offers banking, business lending, SBA lending solutions, electronic payment processing, technology solutions, eCommerce, accounts receivable financing, insurance solutions, web services, and payroll and benefits solutions.

How long has NewtekOne been in business?

NewtekOne has been in business since 1998.

What is NewtekOne's current financial condition?

NewtekOne has over $100 million in stockholders' equity and more than $160 million in revenues.

Where can I find NewtekOne's financial statements?

NewtekOne's financial statements are available online at their investor relations section, http://investor.newtekbusinessservices.com.

Who can I contact for investor relations at NewtekOne?

For investor relations, contact Jayne Cavuoto at (212) 273-8179 or jcavuoto@newtekone.com.

What is NewTracker?

NewTracker is NewtekOne’s proprietary technology that allows clients to interact with subject matter experts and access various business and financial solutions through a single online dashboard.

What are NewtekOne's recent achievements in lending?

In 2023, Newtek Bank closed a record $262.9 million of SBA 7(a) loans in Q4, making it the largest SBA 7(a) lender by total approved dollar amount.

What is the Newtek Advantage®?

The Newtek Advantage® is a platform that integrates NewtekOne's offerings, including accounting, banking, payment processing, and payroll functionalities, providing clients with a comprehensive and real-time dashboard.

What is NewtekOne's approach to branch banking?

NewtekOne operates primarily through digital solutions, minimizing the need for traditional branches and focusing on cost-efficient and technology-driven service delivery.

What are NewtekOne's projected earnings for 2024?

NewtekOne forecasts an increase in annual EPS to a range of $1.80 to $2.00 per basic and diluted common share in 2024.
NewtekOne, Inc.

Nasdaq:NEWT

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318.29M
24.43M
6.83%
34.85%
3.67%
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