NewtekOne, Inc. Stock Price, News & Analysis

NewtekOne, Inc. (NASDAQ: NEWT) will announce its Q1 2023 financial results on May 8, 2023, after market close. Following this, a conference call with CEO Barry Sloane and Chief Accounting Officer Nicholas Leger will be held on May 9, 2023, at 8:30 am ET. Investors can register for the call online and the presentation will be accessible on the investor relations page of NewtekOne’s website. The company provides various business and financial solutions, including banking, lending, payment processing, and technology solutions primarily targeting small and medium-sized businesses across the U.S. For further details, interested parties can view the announcements and documents pertinent to the upcoming earnings release and conference call.

NewtekOne, Inc. (NASDAQ: NEWT) provided an update on its key performance indicators for Q1 2023. The firm reported total tier-one capital of approximately $78 million and total assets of $250 million at its bank subsidiary. Newtek Bank raised $110 million in deposits, bringing total deposits to around $251 million as of March 31, 2023. The company observed a 12% increase in loan closings year-over-year. SBA 7(a) loans originated are at Prime plus 3.0%, yielding positive net interest margins. The company reaffirmed its forecast for Q1 2023 after-tax earnings per share at $0.41, anticipating strong performance as a financial holding company moving forward.

NewtekOne, Inc. (NASDAQ: NEWT) announced its transition to a financial holding company following the acquisition of National Bank of New York City on January 6, 2023. The company will no longer qualify as a regulated investment company. CEO Barry Sloane will hold a conference call on March 15, 2023, to discuss these changes and provide financial forecasts. Newtek Bank estimates raising up to $150 million in deposits in Q1 2023. Despite market volatility, Newtek is comfortable reiterating its earnings guidance of $1.70 to $2.00 per share for Q1 2023. The transition positions Newtek for future success by avoiding reliance on low-cost deposits.

NewtekOne has announced a dividend of $0.18 per share, which represents a 12.5% increase from the previously projected $0.16 per share. This quarterly dividend is set to be paid on April 14, 2023, to shareholders of record as of April 4, 2023. Barry Sloane, CEO, expressed optimism about the company's consistent earnings capability despite market volatility, projecting earnings per share for 2023 between $1.70 and $2.00, leading to an estimated total annual dividend payout of $0.72. The forecast for 2024 suggests earnings per share could reach $2.80 to $3.20.

NewtekOne (NASDAQ: NEWT) has declared a quarterly cash dividend of $0.18 per share, set to be paid on April 14, 2023, to shareholders of record as of April 4, 2023. This financial holding company, along with its subsidiaries, provides a broad array of business solutions to small and medium-sized businesses (SMBs) nationwide. Established in 1999, NewtekOne offers services including banking, business lending, electronic payment processing, and technology solutions among others, helping SMBs enhance sales, manage expenses, and mitigate risks.

NewtekOne, Inc. (Nasdaq: NEWT) has declared its first quarterly dividend as a financial holding company of $0.18 per share, higher than the previously projected $0.16, payable on April 14, 2023. The company completed its acquisition of National Bank of New York City and rebranded itself, signaling a new operational phase. Adjusted net investment income for the fourth quarter was $0.06 per share, a 90.9% drop year-over-year, while total investment income decreased 6.9% to $23.1 million. Revenue projections for 2023 are updated to $1.70 to $2.00 per share, and for 2024, to $2.80 to $3.20 per share.

On February 14, 2023, NewtekOne, Inc. (NASDAQ: NEWT) announced that CEO Barry Sloane will participate in the 'Specialized Commercial Banks' panel at the KBW Fintech and Payments Conference on March 2, 2023, at 9:30 am ET. Additionally, Mr. Sloane will hold one-on-one meetings on March 1 and 2, 2023. Interested parties can schedule meetings through their KBW representative or by contacting Halli Razon at NewtekOne.

NewtekOne offers a range of business and financial solutions for small- and medium-sized businesses, including banking, business lending, and technology solutions, helping clients to enhance sales, control costs, and reduce risks since 1999.

NewtekOne, Inc. (NASDAQ: NEWT) will report its fourth quarter and full year 2022 financial results on February 27, 2023, after market close. A conference call is scheduled for February 28, 2023, at 8:30 am ET, hosted by CEO Barry Sloane and CAO Nicholas Leger. Participants must register online for the call and can access a replay on NewtekOne's website for 90 days post-presentation. NewtekOne provides extensive business and financial solutions, including banking, lending, electronic payment processing, and technology services to small and medium-sized businesses across the U.S.

NewtekOne, Inc. (NASDAQ: NEWT) has announced the sale of $20 million in its 8% Convertible Series A Preferred Stock to Patriot Financial Partners IV, L.P. Barry Sloane, CEO, noted that this partnership could enhance the company’s value through Patriot's network and expertise in the banking sector. Kirk Wycoff, managing partner at Patriot, expressed confidence in NewtekOne's potential, citing its unique offerings for small and mid-sized businesses (SMBs). This investment supports NewtekOne's strategic shift into a financial holding company, including the launch of Newtek Bank, aimed at providing comprehensive services to SMBs.