NewtekOne, Inc. Stock Price, News & Analysis

Newtek Business Services Corp. (NASDAQ: NEWT) announced the successful closing of its $56.3 million commercial loan securitization via Newtek Conventional Lending LLC. The transaction, rated 'A' (sf) by DBRS Morningstar, is secured by a pool of conventional business loans, with a 65.0% advance rate and a yield of 3.209%. CEO Barry Sloane highlighted this as a significant milestone, expanding their lending capabilities beyond traditional SBA programs to accommodate diverse borrower needs. The company also plans to acquire National Bank of New York City, enhancing its service offerings.

Newtek Business Services Corp (NASDAQ: NEWT) declared a Q1 2022 cash dividend of $0.65 per share, a 30% increase from Q1 2021 and 47.7% from Q1 2020. CEO Barry Sloane noted the absence of Paycheck Protection Program (PPP) income in 2022 but highlighted strong operational performance and a forecast for record loan origination volumes. For 2021, Newtek anticipates closing loans exceeding $1.4 billion, with expected funding in Q4 2021 of over $200 million in SBA 7(a) loans. The Board aims for quarterly distributions approximating 90-100% of annual taxable income.

Newtek Business Services Corp (NASDAQ: NEWT) has declared a first-quarter 2022 cash dividend of $0.65 per share, set for payment on March 31, 2022 to shareholders of record as of March 21, 2022. This dividend represents a 30% increase over the $0.50 dividend from Q1 2021 and a 47.7% increase over the $0.44 from Q1 2020. The Board aims to distribute between 90% to 100% of the company’s annual taxable income, ensuring sustainability of dividend payments.

Newtek Business Services Corp (NASDAQ: NEWT) announced the redemption of $40 million of its 5.75% Notes due 2024 on December 29, 2021. This redemption will be at 100% of the principal amount, plus accrued interest. The company aims to replace higher-cost debt with lower-cost capital, enhancing liquidity and supporting future growth. This move is part of Newtek's strategy to grow earnings per share, reduce risk, and increase cash flow. The company emphasizes its ability to execute its financial plans effectively.

Newtek Business Services Corp (NASDAQ: NEWT) has successfully closed its eleventh small business loan securitization, generating $103.43 million from Unguaranteed SBA 7(a) Loan-Backed Notes. The Class A and B Notes were rated ‘A’ and ‘BBB-’ respectively, with an average initial yield of 2.02%. Newtek remains the largest non-bank SBA lender and will pay a $1.05 dividend on December 30, 2021, reflecting a 53.7% increase over last year. The company expects its 2021 SBA 7(a) loan funding forecast to be between $560 million and $600 million, a notable increase from 2019.

Newtek Business Services Corp. (NASDAQ: NEWT) reported mixed financial results for Q3 2021. Total investment income decreased by 16.7% to $12.4 million, while net investment loss reached $(6.7) million, or $(0.30) per share. Conversely, adjusted net investment income (ANII) surged 1300% to $12.6 million or $0.56 per share. The company’s total investment portfolio grew by 11.7% to $712.5 million. Moreover, Newtek announced a cash dividend of $1.05 per share for Q4 2021, reflecting a 123.4% increase year-over-year. The company reaffirmed its full-year guidance for net investment income per share at $0.80.

Newtek Business Services Corp. (Nasdaq: NEWT) announced that it will release its third quarter 2021 financial results on November 8, 2021, after market close. A conference call to discuss these results will occur on November 9, 2021, at 8:30 am ET, featuring CEO Barry Sloane and Chief Accounting Officer Nicholas Leger. Interested parties can join the call by dialing (877) 303-6993 or (760) 666-3611. The conference will also be available via a live webcast on Newtek’s Investor Relations website and subsequently as a replay for 90 days.

Newtek Business Services Corp (NASDAQ: NEWT) announced a $1.05 cash dividend for Q4 2021, payable on December 30, 2021. This represents a 123.4% increase from the prior year's dividend of $0.47. In total, Newtek expects to distribute $3.15 per share in dividends for 2021, marking a 53.7% increase from 2020. The company aims to maintain a policy of quarterly distributions approximating 90-100% of annual taxable income, subject to board discretion.

Newtek Business Services Corp (NASDAQ: NEWT) has expanded its Board of Directors by electing two new members, Fernando Perez-Hickman and Halli Razon-Feingold, bringing the total to seven directors. The board now includes four independent directors and three interested directors. Perez-Hickman brings extensive experience in management and corporate strategy, while Razon-Feingold has over ten years with the company, currently serving as Chief Administrative Officer. This move is expected to enhance the company's governance and support its growth strategy.