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NASDAQ:NEWT

Newtek Business Services - NEWT Stock Forecast, Price & News

$21.16
+0.55 (+2.67%)
(As of 08/10/2022 12:00 AM ET)
Add
Compare
Today's Range
$20.88
$21.42
50-Day Range
$18.12
$25.08
52-Week Range
$17.65
$32.38
Volume
96,636 shs
Average Volume
171,495 shs
Market Capitalization
$511.80 million
P/E Ratio
8.33
Dividend Yield
14.56%
Price Target
N/A

Newtek Business Services MarketRank™ Forecast

Analyst Rating
N/A
Upside/​Downside
N/A
Short Interest
Bearish
6.08% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
N/A
News Sentiment
1.11mentions of Newtek Business Services in the last 14 days
Based on 10 Articles This Week
Insider Trading
Acquiring Shares
$101,640 Bought Last Quarter
Proj. Earnings Growth
16.54%
From $2.60 to $3.03 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.50 out of 5 stars

Finance Sector

372nd out of 904 stocks

Business Services, Not Elsewhere Classified Industry

35th out of 105 stocks

NEWT stock logo

About Newtek Business Services (NASDAQ:NEWT) Stock

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 years; second lien loans, which have terms of 5 to 25 years, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments. The company originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as provides management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, eCommerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. The company also provides Website hosting, dedicated server, and cloud hosting services; Web design and development; Internet marketing; data storage and backup and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design and Web related services; Accounts Receivable Financing, and The Secure Gateway. In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 million to $3 million in businesses. It provides small business terms loans ranging from $0.05 million to $10 million. The firm also provides account receivable financing ranging from $0.05 million to $1.5 million. It also provides $0.05 million to $10 million financing to owner occupied real estate businesses whose average net income over the last 2 years must not exceed $2.5 million. Newtek Business Services Corp.,was founded in 1998 and converted to a BDC company in 2014 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City, New York; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana; and New York, New York.

Newtek Business Services Stock Performance

NASDAQ:NEWT opened at $20.61 on Wednesday. The company's 50 day moving average is $20.86 and its 200-day moving average is $24.25. Newtek Business Services has a 12-month low of $17.65 and a 12-month high of $32.38. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $498.49 million, a P/E ratio of 8.11 and a beta of 1.14.

Newtek Business Services (NASDAQ:NEWT - Get Rating) last released its earnings results on Wednesday, August 3rd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.14. The company had revenue of $19.23 million for the quarter, compared to analysts' expectations of $20.16 million. Newtek Business Services had a net margin of 109.21% and a return on equity of 16.42%. During the same quarter in the previous year, the company earned $1.20 EPS. Sell-side analysts predict that Newtek Business Services will post 2.6 earnings per share for the current year.

Analyst Ratings Changes

Separately, Raymond James upgraded shares of Newtek Business Services from an "underperform" rating to a "market perform" rating in a research report on Monday.

Insider Transactions at Newtek Business Services

In other news, CEO Barry Sloane purchased 4,200 shares of the business's stock in a transaction that occurred on Wednesday, May 18th. The shares were bought at an average cost of $24.20 per share, for a total transaction of $101,640.00. Following the acquisition, the chief executive officer now owns 988,016 shares of the company's stock, valued at approximately $23,909,987.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

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NEWT Stock News Headlines

Newtek (NEWT) Q2 Earnings Top Estimates
Newtek (NEWT) Q1 Earnings Top Estimates
Collect 10% A Year With This Under The Radar Stock
Newtek Business raises dividend by 15% to $0.75
See More Headlines
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NEWT Company Calendar

Ex-Dividend for 6/30 Dividend
6/16/2022
Dividend Payable
6/30/2022
Last Earnings
8/03/2022
Today
8/10/2022
Next Earnings (Estimated)
11/14/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Business services, not elsewhere classified
Sub-Industry
N/A
Sector
Finance
Current Symbol
NASDAQ:NEWT
Fax
N/A
Employees
104
Year Founded
N/A

Profitability

Net Income
$84.14 million
Pretax Margin
67.63%

Debt

Sales & Book Value

Annual Sales
$108.49 million
Cash Flow
$3.29 per share
Book Value
$17.91 per share

Miscellaneous

Free Float
22,808,000
Market Cap
$511.80 million
Optionable
Optionable
Beta
1.14

Key Executives

  • Mr. Barry Scott Sloane (Age 62)
    Chairman, Pres & CEO
    Comp: $1.7M
  • Mr. Nicholas J. Leger (Age 41)
    Principal Financial Officer & Chief Accounting Officer
    Comp: $450k
  • Ms. Halli Razon-Feingold
    Sr. VP of HR, Chief Admin. Officer & Interested Director
  • Mr. Michael Adam Schwartz (Age 61)
    Chief Legal Officer, Chief Compliance Officer & Sec.
    Comp: $560k
  • Mr. Nicolas Young (Age 45)
    Chief Risk Officer
    Comp: $525k
  • Mr. Peter Mathison Downs (Age 57)
    Chief Lending Officer & Director
    Comp: $800k
  • Ms. Jayne L. Cavuoto-Krafchik
    Director of Investor Relations
  • Mr. Brian O. Moon
    Treasurer & Sr. VP of Corp. Devel.
  • Mr. Timothy C. Ihlefeld
    Exec. VP of Strategic Alliances and Chief Sales Officer
  • Mr. Albert Spada
    Exec. VP of Small Bus. Lending













NEWT Stock - Frequently Asked Questions

Should I buy or sell Newtek Business Services stock right now?

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Newtek Business Services in the last year. There are currently 1 hold rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" NEWT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NEWT, but not buy additional shares or sell existing shares.
View NEWT analyst ratings
or view top-rated stocks.

How have NEWT shares performed in 2022?

Newtek Business Services' stock was trading at $27.63 on January 1st, 2022. Since then, NEWT shares have decreased by 23.1% and is now trading at $21.24.
View the best growth stocks for 2022 here
.

When is Newtek Business Services' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, November 14th 2022.
View our NEWT earnings forecast
.

How were Newtek Business Services' earnings last quarter?

Newtek Business Services Corp. (NASDAQ:NEWT) announced its quarterly earnings data on Wednesday, August, 3rd. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.14. The business services provider earned $19.23 million during the quarter, compared to analysts' expectations of $20.16 million. Newtek Business Services had a trailing twelve-month return on equity of 16.42% and a net margin of 109.21%. During the same quarter in the previous year, the company posted $1.20 earnings per share.

How often does Newtek Business Services pay dividends? What is the dividend yield for Newtek Business Services?

Newtek Business Services announced a quarterly dividend on Wednesday, April 20th. Investors of record on Monday, June 20th will be paid a dividend of $0.75 per share on Thursday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 14.12%. The ex-dividend date is Thursday, June 16th. This is a positive change from the stock's previous quarterly dividend of $0.65.
Read our dividend analysis for NEWT
.

Is Newtek Business Services a good dividend stock?

Newtek Business Services (NASDAQ:NEWT) pays an annual dividend of $3.00 per share and currently has a dividend yield of 13.53%. NEWT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 118.11%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, NEWT will have a dividend payout ratio of 99.01% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for NEWT.

What is Barry Sloane's approval rating as Newtek Business Services' CEO?

95 employees have rated Newtek Business Services Chief Executive Officer Barry Sloane on Glassdoor.com. Barry Sloane has an approval rating of 65% among the company's employees.

What other stocks do shareholders of Newtek Business Services own?

What is Newtek Business Services' stock symbol?

Newtek Business Services trades on the NASDAQ under the ticker symbol "NEWT."

Who are Newtek Business Services' major shareholders?

Newtek Business Services' stock is owned by a variety of institutional and retail investors. Top institutional investors include Royce & Associates LP (2.02%), Van ECK Associates Corp (1.43%), Advisors Asset Management Inc. (0.92%), D.A. Davidson & CO. (0.40%), Pictet North America Advisors SA (0.30%) and Banque Pictet & Cie SA (0.30%). Insiders that own company stock include Barry Sloane, Gregory L Zink, Peter Mathison Downs, Richard J Salute and Salvatore Francis Mulia.
View institutional ownership trends
.

How do I buy shares of Newtek Business Services?

Shares of NEWT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Newtek Business Services' stock price today?

One share of NEWT stock can currently be purchased for approximately $21.24.

How much money does Newtek Business Services make?

Newtek Business Services (NASDAQ:NEWT) has a market capitalization of $513.73 million and generates $108.49 million in revenue each year. The business services provider earns $84.14 million in net income (profit) each year or $2.54 on an earnings per share basis.

How many employees does Newtek Business Services have?

The company employs 104 workers across the globe.

How can I contact Newtek Business Services?

Newtek Business Services' mailing address is 4800 T Rex Avenue Suite 120, Boca Raton FL, 11042. The official website for the company is www.newtekone.com. The business services provider can be reached via phone at (212) 356-9500 or via email at jcavuoto@newtekone.com.

This page (NASDAQ:NEWT) was last updated on 8/10/2022 by MarketBeat.com Staff

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