Newtek Business Services

Newtek Business Services Corp. is a non-diversified closed-end management investment company, which engages in the provision of business and financial solutions. Its products and services include business lending, electronic payment processing, managed technology solutions (cloud computing), technology consulting, ecommerce, accounts receivable, inventory financing, personal and commercial lines insurance services, web services, data backup, storage and retrieval, and payroll and benefits solutions to small-and-medium sized businesses (SMB) accounts nationwide across all industries. The company was founded by Barry Sloane in 1998 and is headquartered in New York, NY.

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NewtekOne, Inc. is a financial holding company, which engages in the provision of business and financial solutions. Its brands include Newtek Bank, Newtek Lending, Newtek Payments, Newtek Insurance, Newtek Payroll, and Newtek Technology. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.

The mean of analysts' price targets for NewtekOne (NEWT) points to a 30.5% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Does NewtekOne (NEWT) Have the Potential to Rally 30.45% as Wall Street Analysts Expect?

NewtekOne partners with 1-800Accountant to offer accounting services, adding value to its business customer base. S&P raises ratings on NewtekOne's securitization notes, reflecting confidence in the company's loan underwriting. Earnings for 2023 exactly met the midpoint of guidance for 2023.

NewtekOne: Full Steam Ahead

NewtekOne, Inc. (NASDAQ:NEWT ) Q4 2023 Earnings Conference Call March 6, 2024 8:30 AM ET Company Participants Barry Sloane - President, Chairman and Chief Executive Officer Scott Price - Chief Financial Officer Conference Call Participants Crispin Love - Piper Sandler Tim Switzer - KBW Christopher Nolan - Ladenburg Thalmann Steve Moss - Raymond James Operator Good day and thank you for standing by. Welcome to the NewtekOne Inc. Fourth Quarter 2023 Earnings Conference Call.

NewtekOne, Inc. (NEWT) Q4 2023 Earnings Call Transcript

While the top- and bottom-line numbers for NewtekOne (NEWT) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

NewtekOne (NEWT) Reports Q4 Earnings: What Key Metrics Have to Say

NewtekOne (NEWT) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.06 per share a year ago.

NewtekOne (NEWT) Q4 Earnings and Revenues Lag Estimates

Full Year 2023 Basic Earnings per Share of $1.71 and Diluted Earnings per Share of $1.70 Conference Call Tomorrow 8:30 AM ET BOCA RATON, Fla., March 05, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today its financial and operating results for the three and twelve months ended December 31, 2023.

NewtekOne, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results

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BOCA RATON, Fla., Feb. 05, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), announced today strong growth in its total loan pipeline, across all lending products, year-to-date through January 31, 2024, compared to the same period last year. The total pipeline consists of loans that are in the Company's three lending stages: prequalification, underwriting and approved pending closing. NewtekOne's loan programs include SBA 7(a) loans, SBA 504 loans, alternative loan financing program (formerly referred to as our non-conforming conventional loan program), conforming C&I loans and conforming CRE loans. Newtek Bank's flagship loan program, SBA 7(a) lending, and the Company's alternative loan finance program, led the year-over-year pipeline growth for January. The following summarize the year-over-year pipeline growth year-to-date through January 31, 2024:

NewtekOne, Inc. Begins 2024 with Strong January Loan Pipeline Growth

BOCA RATON, Fla., Feb. 05, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that it will report its fourth quarter and full year 2023 financial results after the market closes on Tuesday, March 5, 2024. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer; M. Scott Price, Chief Financial Officer; and Nicholas Leger, Chief Accounting Officer, the following day, Wednesday, March 6, 2024 at 8:30 am ET.

NewtekOne, Inc. to Report Fourth Quarter and Full Year 2023 Financial Results on Tuesday, March 5, 2024 After the Market Closes

BOCA RATON, Fla., Feb. 01, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), announced today that it has published its ‘2024 Newtek Advantage™ Guide to Success', which is available to investors, existing clients, and prospective new clients on the Company's website through the following link: 2024 Newtek Advantage Guide to Success. The 2024 Newtek Advantage Guide to Success is a Newtek-created and published document that the Company believes can provide independent business owners with a greater path to succeed in their business endeavors in 2024 and also displays how NewtekOne can help them increase their revenues, reduce their expenses, and improve their productivity.

NewtekOne, Inc. Releases the Newtek Advantage™ Guide to Success

BOCA RATON, Fla., Jan. 18, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), announced today that S&P Global Ratings raised its ratings on a total of four classes of notes issued by Newtek Small Business Loan Trusts 2018-1 and 2019-1. The Newtek Small Business Loan Trust 2018-1, Class A Notes were raised to “A+ (sf)” from “A (sf)'' and the Class B Notes was raised to “BBB (sf)” from “BBB- (sf).” In addition, the Newtek Small Business Loan Trust 2019-1 Class A Notes were raised to “A+ (sf)” from “A (sf)” and the Class B Notes were raised to “BBB (sf)” from “BBB- (sf).” According to S&P Global Ratings, the ratings upgrades reflect their view of the transactions' stable performance, the increasing level of credit enhancement as well as the structural features of the transactions. These loan trusts are asset-backed securities transactions backed by amortizing pools of unguaranteed interests in SBA 7(a) loans originated by the Company's subsidiary.

Newtek Small Business Loan Trust Securitizations Ratings Upgraded by S&P Global Ratings

BOCA RATON, Fla., Jan. 03, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company” or “NewtekOne”) (NASDAQ: NEWT), announced today that its nationally chartered bank subsidiary, Newtek Bank, N.A., closed a record $262.9 million of SBA 7(a) loans for the three months ended December 31, 2023, which represents a new quarterly record for the Company, and a 20.6% increase over the previous quarterly record of $218.0 million SBA 7(a) loans closed for the three months ended September 30, 2023. In addition, NewtekOne, through Newtek Small Business Finance and Newtek Bank, closed a record $828.1 million of SBA 7(a) loans for the twelve months ended December 31, 2023, a new annual record for the Company, and a 7.3% increase over $771.9 million of SBA 7(a) loans closed for the twelve months ended December 31, 2022. Newtek Bank currently expects to close $175 million to $200 million of SBA 7(a) loans in the first quarter of 2024, which would represent a 23% increase, at the midpoint of the range, from $152.5 million of SBA 7(a) loans closed in the first quarter 2023. Newtek Bank and the Company's non-bank subsidiaries, closed a record $1.1 billion of loans, across all loan products, for the twelve months ended December 31, 2023, compared to $911.5 million for the same period in 2022.

NewtekOne, Inc. Announces Record Loan Closings for the Fourth Quarter and Full Year 2023

NewtekOne, Inc. has seen dividend investors leave due to its low payout ratios. The company recently lowered its EPS guidance for 2023 and introduced lower-than-expected guidance for 2024. Lending companies, including NEWT, are facing challenges due to a deeply inverted yield curve, and regional banks may be safer investments.

NewtekOne: Look For Further Downgrades To Growth Outlook

BOCA RATON, Fla., Dec. 11, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its Board of Directors declared a quarterly cash dividend of $0.18 per share on the outstanding common stock of NewtekOne. The dividend is payable on January 12, 2024 to shareholders of record as of December 29, 2023.

NewtekOne, Inc. Declares a Quarterly Dividend of $0.18 per Share

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BOCA RATON, Fla., Nov. 29, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company” or “NewtekOne”) (NASDAQ: NEWT), announced today that it has partnered with 1-800Accountant (https://1800accountant.com/), America's leading virtual accounting firm for small businesses, for NewtekOne to offer 1-800Accountant's accounting services to NewtekOne's independent business owner clients and referral partners via “Newtek Accounting” (newtekaccounting.com). Through Newtek Accounting, NewtekOne's clients will have access to 1-800Accountant's suite of professional accounting services, which is powered by both a mix of technology and CPAs with an average of 17 years of experience. This product offering will enable NewtekOne to augment its already broad suite of business and finance solutions and offer its clients digital bookkeeping, personalized accounting solutions, and tax advisory services underscored by access to experts to assist them with their business' accounting and tax needs, while simultaneously allowing them more time to focus on growing their business.

NewtekOne, Inc. Launches Newtek Accounting

BOCA RATON, Fla., Nov. 28, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its bank subsidiary, Newtek Bank, N.A., has hired Ms. Jennifer Merritt as Chief Operating Officer of digital banking operations, effective November 27, 2023.

Newtek Bank, N.A. Hires Chief Operating Officer of Digital Banking Operations

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NewtekOne, Inc. (NASDAQ:NEWT ) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET Company Participants Barry Sloane - President & CEO Scott Price - CFO, NewtekOne HoldCo and Newtek Bank National Association Nicholas Leger - EVP & CAO Conference Call Participants Christopher Nolan - Ladenburg Thalmann & Co. Michael Perito - KBW Scott Sullivan - Raymond James Bryce Roe - B. Riley Operator Good day, and thank you for standing by.

NewtekOne, Inc. (NEWT) Q3 2023 Earnings Call Transcript

NewtekOne stock has had a wild ride since our last article. Q2-2023 results were fine and capital ratios were excellent. The baby bonds just issued might make for a smoother investment experience than the common shares.

NewtekOne: The 8.1% Baby Bonds Might Make A Better Investment Than Common Shares

BOCA RATON, Fla., Oct. 10, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that it will report its third quarter 2023 financial results after the market closes on Tuesday, November 7, 2023. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer; M. Scott Price, Chief Financial Officer; and Nicholas Leger, Chief Accounting Officer, the following day, Wednesday, November 8, 2023 at 8:30 am ET.

NewtekOne, Inc. to Report Third Quarter 2023 Financial Results on Tuesday, November 7, 2023 After the Market Closes

BOCA RATON, Fla., Oct. 02, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today that NewtekOne's CEO and President, Barry Sloane, will present at the LD Micro ‘Sweet Sixteen' Main Event XVI tomorrow, Tuesday, October 3, 2023 at 8:00 AM PDT (11:00 AM EDT), Track 1, at the Luxe Sunset Boulevard Hotel in Los Angeles, CA.

NewtekOne, Inc. CEO, Barry Sloane, to Present at the LD Micro ‘Sweet Sixteen' Main Event XVI

BOCA RATON, Fla., Oct. 02, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company” or “NewtekOne”) (NASDAQ: NEWT), announced today that its nationally chartered bank subsidiary, Newtek Bank, N.A., closed a record $218.0 million of SBA 7(a) loans for the three months ended September 30, 2023, which represents a new quarterly record for the Company, beating the previous record quarter of $217.8 million SBA 7(a) loans closed for the three months ended September 30, 2022. In addition, Newtek Bank closed a record 517 SBA 7(a) loan units for the three months ended September 30, 2023, an increase of 45.6% compared to 355 SBA 7(a) loan units closed by the Company for the same period in 2022. Total loan closings across all of the Company's loan products reached $261.5 million, and 541 units, for the three months ended September 30, 2023, compared to $251.8 million, and 368 units, for the same period one year ago. Both the total loan closings in dollars and units were also quarterly records for the Company.

NewtekOne, Inc. Achieves Record SBA 7(a) Loan Closings in the Third Quarter 2023

BOCA RATON, Fla., Sept. 27, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that its Board of Directors declared a quarterly cash dividend of $0.18 per share on the outstanding shares of the Company's common stock, payable on October 20, 2023 to shareholders of record as of October 10, 2023.

NewtekOne, Inc. CEO, Barry Sloane, Comments on the Declaration of Quarterly Dividend of $0.18 per Share

News for Newtek Business Services Stock (NEWT)