NewtekOne, Inc. Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

Newtek Business Services Corp. (NASDAQ: NEWT) forecasts net investment income (NII) for H1 2022 between ($0.01) and $0.00 per share, while adjusted net investment income (ANII) is expected to be $1.40 to $1.50 per share. CEO Barry Sloane expressed confidence in meeting financial expectations despite pricing pressure in government-backed loan sales. The company received 89% shareholder approval for transitioning to a bank holding company, which could enhance capital raising capabilities and improve dividend tax rates. Second-quarter results will be reported in early August.

Newtek Business Services Corp. (Nasdaq: NEWT) has announced a new share repurchase program under which it may buy back up to 500,000 common shares, equating to around 2.0% of its outstanding shares as of May 2, 2022. The program, approved by the board, will run until December 21, 2022, unless extended. Repurchases will be financed using existing capital, allowing Newtek to evaluate capital deployment based on market conditions and share value. The repurchased shares will become authorized but unissued common shares, potentially enhancing shareholder value.

Newtek Business Services Corp (Nasdaq: NEWT) announced that CEO Barry Sloane will present at the LD Micro by SRAX Invitational XII on June 8, 2022, at 9:30 AM PDT. The event takes place at the Four Seasons, Westlake Village, California, where Sloane will also hold one-on-one meetings. Interested parties can reach out through LD Micro representatives or directly contact Newtek's Investor Relations. A livestream and replay will be accessible on Newtek's Investor Relations page by June 15, 2022, for 90 days.