NewtekOne, Inc. Stock Price, News & Analysis

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.

Newtek Business Services Corp (NASDAQ: NEWT) declared a $0.50 cash dividend for Q1 2021, payable on March 31, 2021. This represents a 13.6% increase from the $0.44 dividend in Q1 2020 and a 25% increase from the $0.40 in Q1 2019. The company aims to distribute 90-100% of its annual taxable income through quarterly dividends. This dividend policy demonstrates Newtek's commitment to returning value to shareholders while supporting its growth in the small- and medium-sized business sector.

Newtek Business Services Corp (Nasdaq: NEWT) announced the addition of two senior executives to its portfolio company, Newtek Merchant Solutions. Andrew Jadatz joins as Senior Vice President of Product Development, bringing over 30 years of experience in merchant services, previously at Bank of America. Shawn Ecksel has been appointed as Senior Vice President of Business Development, boasting 15 years in sales and product development, most recently at USPAY Group LLC. CEO Barry Sloane emphasized the importance of leadership in enhancing NMS's market position amidst a competitive landscape.

Newtek Business Services Corp (Nasdaq: NEWT) has announced that its subsidiary, Newtek Small Business Finance, received early access to the Paycheck Protection Program (PPP) loan portal. Starting January 15, 2021, the Small Business Administration (SBA) reopened the portal for lenders with $1 billion or less in assets to submit first- and second-draw PPP loan applications. Newtek emphasizes its enhanced lending platform and technology improvements, positioning itself to provide priority service for independent businesses seeking PPP loans.