Welcome to our dedicated page for NewtekOne news (Ticker: NEWT), a resource for investors and traders seeking the latest updates and insights on NewtekOne stock.
NewtekOne, Inc. reports developments as a financial holding company serving independent business owners through Newtek Bank, N.A. and non-bank subsidiaries. Its updates cover banking, business lending, SBA lending solutions, Alternative Loan Program and C&I longer-amortizing loans, deposit products, payment processing, payroll and benefits, insurance solutions, and technology services offered under the Newtek brand.
Company news also includes the Newtek Advantage business portal, FedNow® and RTP® instant-payment capabilities, the AI-powered NewTracker® loan processing system, and the Newtek Seven Day Business Loan™. Financial releases address loan origination activity, deposit trends, securitizations, credit facilities, common dividends, and Series B preferred share dividends.
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.
Newtek Business Services Corp. (NEWT) announced strong Q1 2021 results, with net investment income of $15.2 million ($0.68 per share), a significant recovery from a net loss of $(0.3) million in Q1 2020. Adjusted net investment income surged to $23.5 million ($1.05 per share), a 400% increase year-over-year. The company has revised its annual dividend forecast upwards to $3.00-$3.30 per share, representing a 53.7% increase over 2020. Total investment income reached $34.7 million, up 119.5% from the previous year, supported by $424.9 million in PPP loans funded during the quarter.
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.