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. reports developments as a financial holding company serving independent business owners through Newtek Bank, N.A. and non-bank subsidiaries. Its updates cover banking, business lending, SBA lending solutions, Alternative Loan Program and C&I longer-amortizing loans, deposit products, payment processing, payroll and benefits, insurance solutions, and technology services offered under the Newtek brand.
Company news also includes the Newtek Advantage business portal, FedNow® and RTP® instant-payment capabilities, the AI-powered NewTracker® loan processing system, and the Newtek Seven Day Business Loan™. Financial releases address loan origination activity, deposit trends, securitizations, credit facilities, common dividends, and Series B preferred share dividends.
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NewtekOne, Inc. (NASDAQ: NEWT) will announce its Q1 2023 financial results on May 8, 2023, after market close. Following this, a conference call with CEO Barry Sloane and Chief Accounting Officer Nicholas Leger will be held on May 9, 2023, at 8:30 am ET. Investors can register for the call online and the presentation will be accessible on the investor relations page of NewtekOne’s website. The company provides various business and financial solutions, including banking, lending, payment processing, and technology solutions primarily targeting small and medium-sized businesses across the U.S. For further details, interested parties can view the announcements and documents pertinent to the upcoming earnings release and conference call.
NewtekOne, Inc. (NASDAQ: NEWT) provided an update on its key performance indicators for Q1 2023. The firm reported total tier-one capital of approximately $78 million and total assets of $250 million at its bank subsidiary. Newtek Bank raised $110 million in deposits, bringing total deposits to around $251 million as of March 31, 2023. The company observed a 12% increase in loan closings year-over-year. SBA 7(a) loans originated are at Prime plus 3.0%, yielding positive net interest margins. The company reaffirmed its forecast for Q1 2023 after-tax earnings per share at $0.41, anticipating strong performance as a financial holding company moving forward.
NewtekOne, Inc. (NASDAQ: NEWT) announced its transition to a financial holding company following the acquisition of National Bank of New York City on January 6, 2023. The company will no longer qualify as a regulated investment company. CEO Barry Sloane will hold a conference call on March 15, 2023, to discuss these changes and provide financial forecasts. Newtek Bank estimates raising up to $150 million in deposits in Q1 2023. Despite market volatility, Newtek is comfortable reiterating its earnings guidance of $1.70 to $2.00 per share for Q1 2023. The transition positions Newtek for future success by avoiding reliance on low-cost deposits.
NewtekOne has announced a dividend of $0.18 per share, which represents a 12.5% increase from the previously projected $0.16 per share. This quarterly dividend is set to be paid on April 14, 2023, to shareholders of record as of April 4, 2023. Barry Sloane, CEO, expressed optimism about the company's consistent earnings capability despite market volatility, projecting earnings per share for 2023 between $1.70 and $2.00, leading to an estimated total annual dividend payout of $0.72. The forecast for 2024 suggests earnings per share could reach $2.80 to $3.20.
NewtekOne, Inc. (Nasdaq: NEWT) has declared its first quarterly dividend as a financial holding company of $0.18 per share, higher than the previously projected $0.16, payable on April 14, 2023. The company completed its acquisition of National Bank of New York City and rebranded itself, signaling a new operational phase. Adjusted net investment income for the fourth quarter was $0.06 per share, a 90.9% drop year-over-year, while total investment income decreased 6.9% to $23.1 million. Revenue projections for 2023 are updated to $1.70 to $2.00 per share, and for 2024, to $2.80 to $3.20 per share.