NewtekOne, Inc. Stock Price, News & Analysis

NewtekOne (NASDAQ: NEWT) has announced a quarterly cash dividend of $0.19 per share on its outstanding common stock. The dividend will be paid on January 13, 2025, to shareholders who are on record as of December 31, 2024. The company notes that future dividend amounts and timing remain subject to the Board of Directors' discretion.

NewtekOne (NASDAQ: NEWT) and Apiture have been awarded Most Effective Bank-FinTech Partnership at the IBSi Global FinTech Innovation Awards 2024. Newtek Bank, launched in 2023 as a digital-only federally chartered bank, has achieved significant growth using Apiture's digital banking platform. The bank's deposits grew from $140 million to $928 million through November 30, 2024, representing a 563% increase. The bank has opened and manages over 14,000 distinct accounts.

The partnership integrated digital banking capabilities into The Newtek Advantage™ platform, offering business customers access to payroll, payment processing, insurance, business lending, and other solutions in a single online portal. This integration was achieved without using brokers, branches, or business development officers.

NewtekOne (NASDAQ: NEWT) has reaffirmed its forecast to originate approximately $1.4 billion in business loans in 2024 across various loan products. The company projects $1.9 billion in business loans for 2025, representing a 36% increase.

The loan portfolio includes SBA 7(a), SBA 504, alternative loan program, CRE conforming, and C&I conforming loans. Most growth in 2025 is expected from alternative loans, CRE conforming loans, C&I conforming loans, and SBA 504 loans. The company maintains its EPS forecast of $1.85-$2.05 for 2024 and $2.00-$2.25 for 2025.

NewtekOne's subsidiary, Newtek Bank, has launched Zero-Fee Business Banking™, offering commercial clients depository accounts without any hidden fees or costs. The program eliminates charges for ACH, wires, monthly service, maintenance, overdrafts, and insufficient funds, with no minimum balance requirements. The bank aims to provide higher interest rates compared to national averages on commercial checking and savings accounts. Customers can verify potential savings using the newly launched Newtek Zero-Fee Calculator™ on their website.

NewtekOne (NASDAQ: NEWT) CEO Barry Sloane was interviewed at the LD Micro Main Event XVII Investor Conference by Sequire CEO Chris Miglino. The 13-minute interview covered NewtekOne's history and its current role in serving approximately 30 million independent business owners across the United States. Sloane discussed the company's two decades of operating experience and its strategic position as a bank holding company with a national charter, highlighting potential for continued growth and market share expansion.

NewtekOne (NEWT) reported Q3 2024 earnings of $0.45 per share, up 4.7% from both Q2 2024 and Q3 2023. Net interest income reached $11.0 million, showing a 20.9% increase from Q2 2024. Total assets grew 21.4% to $1.7 billion, while loans held for investment increased 13.3% to $913.0 million. The company's Payments segment reported pretax income of $5.3 million, up 32.5% year-over-year. Newtek Bank saw deposits grow 43.7% to $745.7 million since December 2023. The company maintains its 2024 EPS guidance of $1.85-$2.05 and forecasts 2025 EPS of $2.00-$2.25.

NewtekOne (NASDAQ: NEWT) has appointed Ron Lay as Chief Technology Officer for both NewtekOne and Newtek Bank. Lay brings 20 years of experience in technology, digital strategy, and risk compliance within banking and financial services. His previous roles include Managing Director at Investia Software Solutions and Global Head of Wholesale IT Digital at HSBC, where he led a team of 3,500 people managing systems processing over $18 trillion in annual payments. Earlier, he held senior positions at JP Morgan Chase, Deutsche Bank, Lloyds Banking Group, and Charles Schwab.

NewtekOne (NASDAQ: NEWT) has appointed Craig 'CJ' Brunet to the boards of directors of NewtekOne and Newtek Bank N.A. Brunet brings over 50 years of experience in information technology and financial services, with expertise in strategic planning, M&A, SaaS, cyber security, and risk management. He currently serves as President and COO at Advanced Cyber Security Corp and previously spent 14 years at NewtekOne as EVP, CIO, CTO, and CISO. Brunet will chair the upcoming Technology Steering Committee and serve on the Compensation, Corporate Governance and Nominating Committees.

NewtekOne (NASDAQ: NEWT) has announced that CEO and President Barry Sloane will present at the LD Micro Main Event XVII on October 29, 2024, at 11:00AM ET at the Luxe Sunset Blvd Hotel in Los Angeles. The presentation will be available via real-time webcast through NewtekOne's website in the 'Events & Presentations' section.

Sloane will also conduct one-on-one meetings on October 29-30, 2024. Interested parties can schedule meetings through their LD Micro representative or by contacting NewtekOne's Director of Investor Relations. A replay of the presentation will be made available on the company's website after the live event.