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) announced a fourth quarter 2020 cash dividend of $0.47 per share, payable on December 30, 2020 to shareholders of record as of December 18, 2020. This dividend increases the total dividends paid in 2020 to $2.05 per share. The company aims to maintain a policy of quarterly distributions approximating 90-100% of its annual taxable income, though the amount remains at the discretion of the Board of Directors.
Newtek Business Services Corp has revised its 2020 dividend forecast to a range of $1.90 to $2.20 per share, down from $1.80 to $2.30. Additionally, the company forecasts a 2021 dividend of $2.00 to $2.50 per share. The forecast excludes potential impacts from the U.S. Small Business Administration's Paycheck Protection Program. CEO Barry Sloane expressed optimism about future dividends, citing performance during the pandemic, but acknowledged uncertainties due to market volatility and government stimulus discussions.
Newtek Business Services Corp. (Nasdaq: NEWT) reported Q3 2020 net investment income of $1.7 million ($0.08 per share), a strong recovery compared to a net loss of $(0.53) million in Q3 2019. Total investment income decreased 6.9% year-over-year to $14.9 million. The company’s net asset value fell to $324.4 million ($15.13 per share), down 3.6% from year-end 2019. Newtek paid a dividend of $0.58 per share for Q3 2020 and revised its annual dividend forecast for 2020 to $1.90-$2.20 per share. The company actively participated in the Paycheck Protection Program, funding $82.5 million in PPP loans in Q3 2020.
On October 22, 2020, Newtek Business Services Corp (NASDAQ: NEWT) announced a webinar hosted by CEO Barry Sloane and experts from their Payroll and Benefits Solutions portfolio. Scheduled for October 28, 2020, at 3:00 PM EDT, the session will focus on payroll and benefits in the post-pandemic world, addressing issues related to tax, health insurance, and remote work. Space is limited, and registration is available online. Newtek offers a variety of business solutions aimed at supporting small and medium-sized businesses across the United States.
Newtek Business Services Corp. (Nasdaq: NEWT) announced it will release its third quarter 2020 financial results on November 4, 2020, after the market closes. A conference call will follow on November 5, 2020, at 8:30 am ET, featuring CEO Barry Sloane and Chief Accounting Officer Christopher Towers. Investors can access the live call by dialing (877) 303-6993 or (760) 666-3611. A replay of the event will be available for 90 days on Newtek's website.
Newtek Business Services Corp. (Nasdaq: NEWT) announced that CEO Barry Sloane will speak on the BDC panel at the Active Investment Company Alliance Virtual Summer Summit on August 13, 2020, at 3:00 PM ET. The panel includes other BDC leaders such as Main Street Capital and Hercules Capital. Additionally, Sloane will host two virtual Q&A sessions on the same day at 12:00 PM ET and 4:00 PM ET. Interested attendees can contact Jayne Cavuoto at Newtek for participation details.
Newtek Business Services Corp (NASDAQ: NEWT) declared a third quarter 2020 cash dividend of $0.58 per share, payable on September 30, 2020, to shareholders recorded as of September 21, 2020. This dividend represents a total of $1.58 per share for the first three quarters of 2020, marking a 9.7% increase from $1.44 during the same period in 2019. The company aims to distribute approximately 90-100% of its annual taxable income as dividends, reflecting strong financial stability and shareholder value.
Newtek Business Services Corp (Nasdaq: NEWT) announced that it will report its Q2 2020 financial results after market close on August 5, 2020. A conference call to discuss the results will be held the following day, August 6, 2020, at 8:30 am ET. Investors can access the call by dialing (877) 303-6993 or (760) 666-3611, and a live webcast will be available on their website. Newtek provides diverse business solutions to small- and medium-sized businesses (SMBs) across the U.S., enhancing their operational efficiency and growth since 1999.
Newtek Business Services Corp (NASDAQ: NEWT) announced a second quarter 2020 cash dividend of $0.56 per share, a 21.7% increase from the previous year. The dividend will be payable on July 31, 2020 to shareholders of record as of July 15, 2020. The company forecasts adjusted net investment income (ANII) between $1.30 and $1.50 per share for this quarter. CEO Barry Sloane highlighted the company's ability to fund over $1 billion in Paycheck Protection Program loans, reinforcing their commitment to shareholder returns.
Newtek Business Services Corp (NASDAQ: NEWT) declared a cash dividend of $0.56 per share for Q2 2020, payable on July 31, 2020. Shareholders of record as of July 15, 2020 will receive this dividend. The company aims to distribute about 90-100% of its annual taxable income as dividends, though this is determined annually based on fiscal performance. This announcement highlights Newtek's commitment to returning value to shareholders amidst ongoing business operations targeting small- and medium-sized enterprises.
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