NewtekOne, Inc. Stock Price, News & Analysis

Newtek Business Services Corp (NASDAQ: NEWT) announced a third quarter 2021 cash dividend of $0.90 per share, payable on September 30, 2021 to shareholders of record as of September 20, 2021. This represents a 55.2% increase compared to the $0.58 dividend paid in the third quarter of 2020. For the first three quarters of 2021, total dividends paid amount to $2.10 per share, a 32.9% rise from the same period in 2020. The company aims for future dividends to approximate 90-100% of its annual taxable income.

Newtek Business Services Corp. (NEWT) declared a $0.90 dividend for Q3 2021, representing a 55.2% increase from Q3 2020. In the first three quarters of 2021, total dividends reached $2.10, a 32.9% rise from the previous year. For Q2 2021, total investment income was $36.6 million, down 21.6% year-over-year. Net investment income decreased to $15.5 million from $29.7 million in Q2 2020. The company’s total investment portfolio grew by 7.4% to $696.1 million by June 30, 2021, while NAV increased to $369.0 million, or $16.38 per share.

Newtek Business Services Corp (Nasdaq: NEWT) announced an addendum to its August 3, 2021 presentation, updating financial information related to its acquisition of National Bank of New York City (NBNYC). This addendum should be reviewed alongside the original presentation and includes information not prepared according to GAAP. The company has filed a Current Report on Form 8-K regarding this matter with the SEC. Newtek emphasizes that the addendum contains forward-looking statements subject to various risks and uncertainties.

Newtek Business Services Corp (Nasdaq: NEWT) appointed Nicolas Young as Chief Risk Officer, bringing over 20 years of credit risk management experience. Young previously served as Executive Vice President and Chief Credit Officer at IBERIABANK and held key positions at Banco Sabadell Group. His expertise will support Newtek's transition to a bank holding company following the acquisition of National Bank of New York City, pending regulatory approvals. Young aims to enhance credit risk management within Newtek's lending portfolio.

Newtek Business Services Corp (Nasdaq: NEWT) announced an agreement to acquire the National Bank of New York City (NBNYC) for $20 million in cash. The acquisition aims to reposition Newtek as a bank holding company, pending regulatory and shareholder approvals. As of June 30, 2021, NBNYC holds approximately $204 million in assets and $36.5 million in Tier 1 capital. Newtek expects the acquisition to enhance shareholder value and enable better service to clients. The company reaffirms its 2021 annual dividend forecast of $3.00 to $3.30 per share, with a conference call scheduled for August 3, 2021.

Newtek Business Services Corp. (Nasdaq: NEWT) announced it will release its second quarter 2021 financial results after market close on August 10, 2021. A subsequent conference call, hosted by CEO Barry Sloane and CAO Nicholas Leger, will take place on August 11, 2021, at 8:30 am ET. Investors can access the call via phone or through a live webcast on Newtek’s website, with a replay available for 90 days. Newtek offers various business and financial solutions to small and medium-sized businesses nationwide.

Newtek Business Services Corp (NASDAQ: NEWT) announced the appointment of Mr. Michael Breier as Vice President of Independent Sales Organization/Agent Development at Newtek Merchant Solutions. With over 15 years of experience in merchant services, Breier's background includes positions at Priority Payment Systems and Cynergy Data. This is the fifth addition to NMS's senior management in 2021, aimed at enhancing its ISO Merchant Services Agent Program.

Barry Sloane, CEO, expressed confidence that Breier's expertise will strengthen NMS's leadership and growth strategies in a competitive market.

Newtek Business Services Corp. (Nasdaq: NEWT) announced that CEO Barry Sloane will present virtually at the Deutsche Bank Global Financial Services & FinTech/Info Services Conference on June 2, 2021, at 2:05 PM ET. The presentation will include a live audio webcast and an interactive Q&A session, accessible via Newtek's Investor Relations website. A replay will be available for 90 days post-event. Newtek offers a variety of business solutions for small- and medium-sized businesses across the U.S., including lending, electronic payment processing, and technology services.

Newtek Business Services Corp (NASDAQ: NEWT) announced a cash dividend of $0.70 per share for Q2 2021, payable on June 30, 2021, to shareholders recorded by June 15, 2021. This represents a 25% increase from the $0.56 dividend in Q2 2020 and a 52.2% rise over the Q2 2019 dividend of $0.46. The company aims to distribute 90-100% of its annual taxable income through dividends. Future dividends are subject to the Board's discretion.