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.
Newtek Business Services Corp. (NASDAQ: NEWT) announces a 15.4% increase in its second-quarter 2022 cash dividend forecast, raising it from $0.65 to $0.75 per share. The first-quarter dividend of $0.65 is payable on March 31, 2022, to shareholders of record on March 21, 2022. CEO Barry Sloane expressed confidence in the company’s performance amid global volatility, citing strong engagement and support from their client base across various financial solutions, which has resulted in higher financial returns.
Newtek Business Services Corp (NASDAQ: NEWT) announced a conference call on March 2, 2022, at 8:30 am ET. CEO Barry Sloane will discuss the pending acquisition of the National Bank of New York City, providing revised illustrations on the matter. The call will be accessible via telephone and a live webcast will be available on the company’s website. Newtek aims to deliver cost-efficient solutions to the SMB market and has been operational since 1999, focusing on business lending, technology solutions, and various financial services.
Newtek Business Services Corp. (NASDAQ: NEWT) reported its financial results for the year ending December 31, 2021, highlighting total investment income of $108.5 million, up 17.7% year-over-year. Net investment income decreased to $25.7 million, or $1.13 per share, a 25.8% drop from the previous year. However, adjusted net investment income surged 69.3% to $79.1 million, or $3.47 per share. The company achieved record SBA 7(a) loans of $560.6 million for the full year, forecasting $750 million for 2022. Newtek also declared a cash dividend of $0.652 per share for Q1 2022, representing a 30% increase.
Newtek Business Services Corp. (NASDAQ: NEWT) announced a forecasted cash dividend of $0.65 per share for the second quarter of 2022, matching the previously declared first quarter dividend. This brings the total to $1.30 per share for the first six months of the year. CEO Barry Sloane expressed satisfaction with the momentum from core businesses, leading to this dividend forecast. The dividend is subject to Board approval, aiming to distribute approximately 90-100% of annual taxable income to shareholders.
Newtek Business Services Corp (Nasdaq: NEWT) will release its full year 2021 financial results on February 23, 2022, after market closure. A conference call, led by CEO Barry Sloane and Chief Accounting Officer Nicholas Leger, is scheduled for February 24, 2022, at 8:30 am ET. Investors can access the call via phone or a live webcast on the company’s Investor Relations website. Newtek, offering extensive business solutions to small and medium-sized businesses since 1999, emphasizes growth, cost-efficiency, and risk reduction in its service portfolio.
Newtek Business Services Corp. (NASDAQ: NEWT) announced the successful closing of its $56.3 million commercial loan securitization via Newtek Conventional Lending LLC. The transaction, rated 'A' (sf) by DBRS Morningstar, is secured by a pool of conventional business loans, with a 65.0% advance rate and a yield of 3.209%. CEO Barry Sloane highlighted this as a significant milestone, expanding their lending capabilities beyond traditional SBA programs to accommodate diverse borrower needs. The company also plans to acquire National Bank of New York City, enhancing its service offerings.
Newtek Business Services Corp (NASDAQ: NEWT) declared a Q1 2022 cash dividend of $0.65 per share, a 30% increase from Q1 2021 and 47.7% from Q1 2020. CEO Barry Sloane noted the absence of Paycheck Protection Program (PPP) income in 2022 but highlighted strong operational performance and a forecast for record loan origination volumes. For 2021, Newtek anticipates closing loans exceeding $1.4 billion, with expected funding in Q4 2021 of over $200 million in SBA 7(a) loans. The Board aims for quarterly distributions approximating 90-100% of annual taxable income.
Newtek Business Services Corp (NASDAQ: NEWT) has declared a first-quarter 2022 cash dividend of $0.65 per share, set for payment on March 31, 2022 to shareholders of record as of March 21, 2022. This dividend represents a 30% increase over the $0.50 dividend from Q1 2021 and a 47.7% increase over the $0.44 from Q1 2020. The Board aims to distribute between 90% to 100% of the company’s annual taxable income, ensuring sustainability of dividend payments.
Newtek Business Services Corp (NASDAQ: NEWT) announced the redemption of $40 million of its 5.75% Notes due 2024 on December 29, 2021. This redemption will be at 100% of the principal amount, plus accrued interest. The company aims to replace higher-cost debt with lower-cost capital, enhancing liquidity and supporting future growth. This move is part of Newtek's strategy to grow earnings per share, reduce risk, and increase cash flow. The company emphasizes its ability to execute its financial plans effectively.
Newtek Business Services Corp (NASDAQ: NEWT) has successfully closed its eleventh small business loan securitization, generating $103.43 million from Unguaranteed SBA 7(a) Loan-Backed Notes. The Class A and B Notes were rated ‘A’ and ‘BBB-’ respectively, with an average initial yield of 2.02%. Newtek remains the largest non-bank SBA lender and will pay a $1.05 dividend on December 30, 2021, reflecting a 53.7% increase over last year. The company expects its 2021 SBA 7(a) loan funding forecast to be between $560 million and $600 million, a notable increase from 2019.
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