NewtekOne, Inc. Stock Price, News & Analysis

Newtek Business Services Corp (Nasdaq: NEWT) will report its first quarter 2021 financial results on May 11, 2021. A conference call led by CEO Barry Sloane and CAO Nicholas Leger will follow on May 12, 2021, at 8:30 am ET to discuss these results. Investors can access the live call at (877) 303-6993 or (760) 666-3611. The event will also be available via webcast on Newtek's Investor Relations website.

Newtek provides a variety of financial solutions for small- and medium-sized businesses across the U.S.

On March 30, 2021, Newtek Business Services Corp (Nasdaq: NEWT) announced that Chairman, President, and CEO Barry Sloane will be featured on the Lebenthal Report Podcast. The discussion is scheduled for 2:00 p.m. PT (5:00 p.m. ET). Newtek, an internally managed business development company, provides a variety of financial solutions to small and medium-sized businesses across the U.S. Products include business lending, electronic payment processing, and technology solutions. For more details, visit the podcast link.

Newtek Business Services Corp (Nasdaq: NEWT) announced that its portfolio company, Newtek Business Lending (NBL), secured a $100 million credit facility with Deutsche Bank AG. This facility, with a two-year term, will fund SBA 504 loans, complementing NBL’s existing $75 million credit facility with Capital One Bank. CEO Barry Sloane highlighted that this financing positions NBL to expand its lending operations, aiming to generate gain-on-sale income without retaining loans on its balance sheet. This could enhance the BDC's dividend contributions.

Newtek Business Services Corp. (Nasdaq: NEWT) has appointed David Simon as Chief Operating Officer of Newtek Merchant Solutions (NMS), a key player in its payment processing division. With over 25 years of experience in financial services and a strong background in electronic payments, Simon previously served as Senior VP at Visa and led a prepaid card program at TriStar Payments. His expertise is expected to boost Newtek’s strategic goals and enhance its payment solutions for small and medium-sized businesses.

Newtek Business Services Corp. (NEWT) reported a significant 620.7% increase in net investment income, achieving $32.0 million or $1.51 per share for 2020. Total investment income rose 55.5% to $92.2 million. Adjusted net investment income declined 12.0% to $43.4 million or $2.05 per share. The net asset value decreased by 1.6% to $15.45 per share. The company plans to increase its dividend forecast for 2021 to between $2.40 and $2.90 per share. Newtek funded $1.2 billion in PPP loans during 2020, contributing to revenue growth amidst pandemic challenges.

Newtek Business Services Corp (Nasdaq: NEWT) has updated its 2021 annual dividend forecast to a range of $2.40 to $2.90 per share, reflecting a 29% increase from 2020. The company is optimistic about its growth prospects, citing improved performance in SBA loan origination and plans to fund $600 million in SBA 7(a) loans this year. Additionally, it anticipates funding $350 to $400 million in PPP loans by March 31, 2021. Newtek has recently strengthened its management team to drive growth in payment processing and technology solutions.

Newtek Business Services Corp (Nasdaq: NEWT) will announce its fourth quarter 2020 financial results on March 22, 2021, after market close. A conference call featuring CEO Barry Sloane and CAO Nicholas Leger will be held on March 23, 2021, at 8:30 am ET to discuss the results. Interested parties can join the call by dialing (877) 303-6993 or (760) 666-3611. A live webcast will also be available on Newtek’s Investor Relations website. Newtek is a business development company offering financial and business solutions to small- and medium-sized businesses.

Newtek Business Services Corp. (NASDAQ: NEWT) announced a significant milestone, achieving a market capitalization of $500 million, based on a closing stock price of $22.98 on February 26, 2021. CEO Barry Sloane expressed pride in this achievement, attributing it to the company's robust business model and adaptability in a dynamic environment. This milestone may enhance the company's appeal to small-cap investors, as they often seek firms with a minimum market cap threshold. Newtek aims to reach $1 billion in total assets in the future.

Newtek Business Services Corp (NASDAQ: NEWT) announced a cash dividend of $0.50 per share for Q1 2021, payable on March 31, 2021, to shareholders of record by March 22, 2021. This marks a 13.6% increase from Q1 2020 and a 25% increase compared to Q1 2019. CEO Barry Sloane expressed confidence in the company's business model and outlook for 2021. The board intends to continue a dividend policy around 90-100% of annual taxable income, but future dividends remain at the board's discretion.