NewtekOne, Inc. Stock Price, News & Analysis

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.

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.

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.

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.

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.

Newtek Business Services Corp (NASDAQ: NEWT) announced the pricing of its twelfth small business loan securitization, offering $116.21 million in Unguaranteed SBA 7(a) Loan-Backed Notes, Series 2022-1. The offering includes $95.38 million of Class A Notes and $20.83 million of Class B Notes, rated ‘A- (sf)’ and ‘BBB- (sf)’ by S&P Global Ratings, respectively. The notes have a 79.5% anticipated advance rate and will adjust monthly according to SOFR. The company anticipates creating approximately $29 million in new cash flow post-securitization closure, expected around September 7, 2022.

Newtek Business Services reported a significant increase in SBA 7(a) loan fundings, achieving $200.6 million in Q2 2022, up 112.8% year-over-year. However, total investment income fell 47.5% to $19.2 million, influenced by the absence of non-recurring Paycheck Protection Program (PPP) fee income. Net investment loss was $(2.3) million, or $(0.09) per share, a substantial decline from $15.5 million, or $0.69 per share, in Q2 2021. The company forecasts an annual dividend of $2.40 to $2.90 per share, maintaining confidence in its growth trajectory amid challenging market conditions.

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.