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.

Company Reaffirms Financial Forecasts for the First Half of 2022 Company Reaffirms Financial Forecasts for the First Half of 2022

Newtek Business Services Corp. Reports Record SBA 7(a) Loan Fundings for the Second Quarter 2022

NEWT is a company in an organizational transition. The company has historically paid out about 100% of earnings, but as a bank holding company, the distributions will be much more limited.

The Curious Case Of Newtek Business Services

BOCA RATON, Fla., June 21, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), provides forecasts for certain financial metrics for the six months ending June 30, 2022. For the six months ending June 30, 2022, the Company is forecasting net investment income (loss) (“NII”) in a range of ($0.01) per share to $0.00 per share and adjusted net investment income (“ANII”)1 in a range of $1.40 per share to $1.50 per share.

Newtek Business Services Corp. Provides Financial Forecast for the First Half of 2022

BOCA RATON, Fla., June 21, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (the “Company” or “Newtek”) (Nasdaq: NEWT) today announced that its board of directors approved a repurchase program (the “Program”) under which the Company may repurchase up to 500,000 shares (the “Shares”) of its common stock, par value $0.02 (the “Common Shares”), which represents approximately 2.0% of the outstanding Common Shares of the Company as of May 2, 2022. The repurchases shall be effected through open market purchases, including block purchases, in such manner as will comply with the provisions of the Investment Company Act of 1940, as amended and the Securities Exchange Act of 1934, as amended (the “1934 Act”). Unless extended or terminated by the board of directors, the Company anticipates that the termination date for the Program will be on December 21, 2022. The Company expects to finance the repurchases with existing capital and the repurchased Shares will be designated as authorized but unissued Common Shares. In addition, the Company will continuously evaluate alternate and strategic uses of its capital depending on, among other things, the fair value of Newtek's Common Shares and the other available capital deployment opportunities.

Newtek Business Services Corp. Announces Stock Repurchase Program

We had upgraded Newtek to neutral from our earlier short-sell idea as the stock entered the upper end of its normal valuation range. The stock has dropped another 21% since then.

Newtek: Valuation Compression On Track

BOCA RATON, Fla., June 02, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek's CEO and President, Barry Sloane, will present at the LD Micro by SRAX Invitational XII at the Four Seasons Westlake Village, California on Wednesday, June 8, 2022 at 9:30 AM PDT (12:30 PM EDT), Track 4. Barry Sloane will be available for one-on-one meetings throughout the day.  To schedule a meeting, please contact your LD Micro representative, or Jayne Cavuoto, Director of Investor Relations for Newtek, at 212-273-8179 or  jcavuoto@newtekone.com .

Newtek Business Services Corp. CEO, Barry Sloane, to Present at the LD Micro by SRAX Invitational XII

BOCA RATON, Fla., June 01, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), announced that earlier today at a special meeting of shareholders (the “Special Meeting”), Newtek shareholders overwhelmingly approved a proposal authorizing the Company's Board of Directors to discontinue the Company's election to be regulated under the Investment Company Act of 1940, as amended (the “1940 Act”) (subject to certain regulatory approvals and closing conditions described in the Company's Proxy Statement dated May 2, 2022) (the “Proposal”). As disclosed in the Company's Form 8-K filed today, 89% of the votes cast at the Special Meeting were in favor of the Proposal.

Newtek Business Services Corp. Receives Shareholder Approval to Discontinue the Company's Election to be Regulated Under the Investment Company Act of 1940

Capital Southwest

Great Elm Capital

Bjusiness development companies offer generous yields because they're required to distribute substantially all of their earnings to shareholders. BDCs receive favorable tax treatment, and in return, they aren't allowed to retain earnings in the same way other companies are.

3 Business Development Companies With Dividend Yields Over 8%

Newtek Business Services Corp. (NASDAQ:NEWT ) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Jayne Cavuoto - Director of Investor Relations Barry Sloane - President, Founder, and Chief Executive Officer Nick Leger - Chief Accounting Officer Conference Call Participants Paul Johnson - KBW Sure. Good morning, everybody.

Newtek Business Services Corp. (NEWT) CEO Barry Sloane on Q1 2022 Results - Earnings Call Transcript

Newtek (NEWT) delivered earnings and revenue surprises of 10.77% and 4.01%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Newtek (NEWT) Q1 Earnings Top Estimates

SBA 7(a) Loan Fundings Increased by 56.5% in the First Quarter of 2022 Over the Same Period Last Year SBA 7(a) Loan Fundings Increased by 56.5% in the First Quarter of 2022 Over the Same Period Last Year

Newtek Business Services Corp. Reports First Quarter 2022 Financial Results

BOCA RATON, Fla., April 22, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will report its first quarter 2022 financial results after the market closes on Wednesday, May 4, 2022. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Nicholas Leger, Chief Accounting Officer, the following day, Thursday, May 5, 2022 at 8:30 am ET. The live conference call can be accessed by dialing (346) 248-7799 using the Meeting ID: 96364580000 and passcode 456097.

Newtek Business Services Corp. to Report First Quarter 2022 Financial Results on Wednesday, May 4, 2022 After the Market Closes

BOCA RATON, Fla., April 20, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that its Board of Directors declared a second quarter 2022 cash dividend of $0.75 per share.1 The second quarter 2022 dividend is payable on June 30, 2022 to shareholders of record as of June 20, 2022.

Newtek Business Services Corp. Declares Second Quarter 2022 Dividend of $0.75 per Share

BOCA RATON, Fla., April 12, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance (“NSBF”) retained its position as the largest non-bank lender (with PLP status) licensed by the SBA under the federal Section 7(a) loan program, based on loan approval dollar volume as of March 31, 2022. In addition, NSBF was ranked as the 2nd largest SBA 7(a) lender, including banks, by loan approval dollar volume as of March 31, 2022.

Newtek Small Business Finance Retains Position as Largest Non-Bank SBA 7(a) Lender

Newtek Business Services was cut to a sell last time we covered the stock.

Newtek: 3 Reasons We Are Upgrading This Today

BOCA RATON, Fla., March 16, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that it will host a technology symposium with Dell Technologies, focused on cyber security, on Thursday, March 24. 2022 at 6:00 pm EDT at Stout NYC Penn Station in the Greene Room located at 133 West 33rd Street (between 6th and 7th Avenues) in New York City.

Dell Technologies and Newtek Business Services Corp. To Sponsor Symposium for Cyber Security in NYC on Thursday, March 24, 2022

BOCA RATON, Fla., March 08, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that it has raised its forecast for its second quarter 2022 cash dividend by 15.4% to $0.75 per share from its previous forecast of $0.65 per share.1 The Company previously declared a first quarter 2022 dividend of $0.65 per share, which is payable on March 31, 2022 to shareholders of record on March 21, 2022.

Newtek Business Services Corp. Raises Forecast for Second Quarter 2022 Dividend by 15.4% to $0.75 per Share from Previous Forecast of $0.65 per Share

BOCA RATON, Fla., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Barry Sloane, Chief Executive Officer will host a conference call with a corresponding presentation on Wednesday, March 2, 2022, at 8:30 am ET to provide an update on the pending acquisition of the National Bank of New York City, with revised illustrations. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.

Newtek Business Services Corp. to Provide Update on its Acquisition of National Bank of New York City on Wednesday, March 2, 2022 at 8:30 am ET

Newtek Business Services Corp. (NEWT) CEO Barry Sloane on Q4 2021 Results - Earning Call Transcript

Newtek (NEWT) delivered earnings and revenue surprises of 8.20% and 73.58%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Newtek (NEWT) Q4 Earnings and Revenues Beat Estimates

Achieves Record SBA 7(a) Loan Fundings of $198.0 Million in the Fourth Quarter and $560.6 Million for the Full Year 2021 Achieves Record SBA 7(a) Loan Fundings of $198.0 Million in the Fourth Quarter and $560.6 Million for the Full Year 2021

Newtek Business Services Corp. Reports Full Year 2021 Financial Results

Newtek was previously a little known BDC with an exceedingly loyal following. But as of August, management's plans to reposition the company as a bank sent many investors diving for cover.

Newtek Business Services: You Can Take This BDC To The Bank

BOCA RATON, Fla., Feb. 11, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced its forecast for its second quarter 2022 cash dividend of $0.65 per share.1 The Company previously declared a first quarter 2022 dividend of $0.65 per share, which is payable on March 31, 2022 to shareholders of record on March 21, 2022.

Newtek Business Services Corp. Forecasts Second Quarter 2022 Dividend of $0.65 per Share

Transaction Rated ‘A' (sf) by DBRS Morningstar Transaction Rated ‘A' (sf) by DBRS Morningstar

Newtek Conventional Lending LLC Closes its Securitization with the Sale of $56.3 Million of Notes Backed by Conventional Commercial Loans

Newtek Business Services Corp is a business development company investing in debt and equity of small businesses in the United States. The company has been affected by the pandemic but is now firing on all cylinders.

News for Newtek Business Services Stock (NEWT)