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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 fourth quarter 2022 cash distribution of $0.70 per share, payable on December 30, 2022, to shareholders of record as of December 20, 2022. The Board aims to maintain a dividend policy targeting 90-100% of the company's 2022 taxable income, including a spillover dividend from retained earnings. Newtek offers a variety of business solutions for small and medium-sized businesses across the U.S., including lending, technology, eCommerce, and insurance solutions.

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Newtek Business Services Corp. reported record SBA 7(a) loan fundings of $223.0 million for Q3 2022, a 36.0% increase from Q3 2021. Total investment income surged by 90.0% to $23.6 million. However, net investment income showed a slight profit of $0.2 million for Q3, reflecting a significant decline of 103.3% compared to last year. The company raised its full-year 2022 SBA loan funding guidance to $775 million, expecting further growth. Despite challenges from rising interest rates and inflation, Newtek's adjusted net investment income stood at $15.0 million for the quarter, or $0.62 per share.

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Newtek Business Services Corp. (Nasdaq: NEWT) announced it will release its third quarter 2022 financial results on November 7, 2022, after market close. A conference call to discuss these results is scheduled for November 8, 2022, at 8:30 AM ET, led by CEO Barry Sloane and CFO Nicholas Leger. Interested participants can register online for the conference call. Newtek provides business and financial solutions to small and medium-sized businesses, offering a range of services that include lending, electronic payments, and technology solutions.

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Newtek Business Services Corp. (NASDAQ: NEWT) reported record fundings of SBA 7(a) loans for the three and nine months ended September 30, 2022. In Q3 2022, NSBF funded $223.1 million in loans, a 36.1% increase year-over-year. For the nine months, fundings reached $587.0 million, up 61.9%. The company forecasts total fundings of $750 million for 2022, reflecting a 33.8% increase from 2021. CEO Barry Sloane highlighted improved loan selectivity and the company’s resilience in challenging economic conditions.

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Newtek Business Services Corp. (NASDAQ: NEWT) is moving towards becoming a digital bank for independently owned businesses by selecting the Apiture Digital Banking Platform. This decision complements its planned acquisition of the National Bank of New York City, pending regulatory approvals. The partnership aims to enhance digital banking capabilities with an integrated suite of services for business clients. CEO Barry Sloane emphasized that this marks a significant shift towards a branchless banking model, positioning Newtek as a primary financial partner for businesses.

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Newtek Business Services Corp (Nasdaq: NEWT) announced an investor conference call scheduled for September 29, 2022, at 8:30 am ET. CEO Barry Sloane will discuss the planned acquisition of National Bank of New York City, pending regulatory approval, along with third-quarter 2022 performance metrics. Newtek, an internally managed business development company, provides a range of financial solutions to small- and medium-sized businesses across the U.S. The call will require registration, and a replay will be available for 90 days post-presentation.

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Newtek Business Services Corp. (NASDAQ: NEWT) announced a forecast for a fourth-quarter 2022 cash distribution of $0.70 per share, as part of a total anticipated distribution of approximately $2.75 per share for the year. This follows the company's plans to transition from a business development company (BDC) structure to a bank holding company after acquiring the National Bank of New York City, pending regulatory approvals. The move aims to enhance shareholder value and attract new investors, with expectations for improved future financial performance and inclusion in the Russell 2000.

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Newtek Business Services Corp (Nasdaq: NEWT) has announced a strategic rebranding in anticipation of acquiring the National Bank of New York City (NBNYC), pending regulatory approvals. The company will transform its identity to NewtekOne and rename NBNYC to Newtek Bank, National Association. This rebranding aligns with CEO Barry Sloane's vision of providing comprehensive financial solutions for independent businesses. Newtek aims to enhance client relationships through the Newtek Advantage™ dashboard, facilitating multiple interaction points with financial experts. The initiative seeks to bolster shareholder value and better serve the 32.5 million small businesses in the U.S.

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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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FAQ

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

The current stock price of NewtekOne (NEWT) is $12.7 as of December 20, 2024.

What is the market cap of NewtekOne (NEWT)?

The market cap of NewtekOne (NEWT) is approximately 334.9M.

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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NEWT Stock Data

334.86M
24.48M
6.77%
34.9%
3.83%
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