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Newtek Business Services Corp. (NEWT)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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abad March 22, Monday is earnings call.
NEWT is poised fro a good report and a good 6-12 months future. Based on what is going on in the nation. I expect a range of value beaten 27-32 and expect an increase in dividend. Let us see what news for NEWT March 22 brings to us.
Note that NEWT has exceeded my original forecast of 22-26 as it has steadily climbed to 26.5. expect a leveling off with a yearly dividend which approaches $2,50 in the near future
Excellent business operation for loan placements.
Earnings are out, and very strong!
They are up slightly now. I'm not sure why there is all this bouncing. Earnings are scheduled to come out today. We'll have to wait and see.
Ex-div date is 3/19/2021 ansmd div. is 0.50 /share.
Share value almost 29/share.
Newtek Business Services Corp. has a differentiated BDC model
Newtek is an internally managed BDC; does not pay a 4% management fee to an external manager
Portfolio companies are wholly owned, most for over 10 years
Portfolio company dividends tend to be less sensitive to credit risk, interest rates and inflation, and could
potentially benefit with such increases
Forecast paying an annual cash dividend of $1.84 per share in 2019
Proven track record; Established in 1998; publically traded since September 2000
Over 15-year lending history through multiple lending cycles; great depth and breadth of experience
NSBF does not purchase repackaged loans; instead, originates on a true retail basis leading to strong
credit quality and loan performance
Small balance, industry and geographically diversified portfolio of 1,844 loans with an average loan size of
approximately $181K of the average unguaranteed retained loan balance
Floating rate notes without a cap, tied to Prime and with a quarterly rate adjust
Management’s interests aligned with shareholders; management and Board combined own approximately
6.3% of outstanding shares as of September 30, 2018
No derivative securities in BDC; No SBIC leverage; Do not invest in CDOs or loans with equity kickers,
No 2nd lien or mezzanine financing as a business line
No direct lending exposure to oil and gas industry
About 10 days ago CEO said loan referrals are up 800%...Gov't stimulus virtually eliminates increase in loan losses for next 2 qtrs. By law, 90% of profits MUST be distributed...unless there is something in stimulus package that changes that. NEWT must pay a dividend. I for 1 cannot see how a company that was and most probably continues to do most of their volume in SBA loans that were 80% government guaranteed, now going to have Gov't paying principal and interest payments for the next 6 months on existing SBA loans and 100% guaranteed for the next 6 months on new loans, have a major decrease in earnings with referrals increasing substantially...I don't think the USGovt will default on their promise to pay principal and interest for the next 6 months..if there is a negative, selling the loans at a greater "margin" might be a minor issue, but should e offset by larger volume with no losses...that's my thoughts...maybe time to buy more?
(NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that its Board of Directors declared a second quarter 2020 cash dividend of $0.56(1) per share, which is payable on July 31, 2020 to shareholders of record as of July 15, 2020
Second Quarter 2020 Financial Highlights
Total investment income of $46.7 million for the three months ended June 30, 2020; an increase of 230% over total investment income of $14.1 million for the three months ended June 30, 2019.
Net investment income increased to $29.7 million, or $1.42 per share, for the three months ended June 30, 2020 compared to a net investment income (loss) of $(1.1) million, or $(0.06) per share, for the three months ended June 30, 2019.
Adjusted net investment income (“ANII”)1 of $28.5 million, or $1.37 per share, for the three months ended June 30, 2020; an increase of 140.4% compared to ANII of $11.0 million, or $0.57 per share, for the three months ended June 30, 2019.
Net asset value (“NAV”) of $327.4 million, or $15.66 per share, at June 30, 2020; an increase of 4.4% over NAV of $15.00 per share at March 31, 2020, and an increase of 2.2% over NAV of $15.33 per share at June 30, 2019.
Debt-to-equity ratio of 1.20x at June 30, 2020 compared to debt-to-equity ratio of 1.44x at March 31, 2020.
Total investment portfolio increased by 13.1% to $648.4 million at June 30, 2020, from $573.5 million at June 30, 2019.
Their ppp loan department is a mess. Been trying to withdraw my application for weeks. Does anyone know who to contact for action?
dropped 5.7 percent to $19.52. Raymond James downgraded Newtek Business Services from Outperform to Market Perform. That means they want the price down so they can buy more. This is my biggest position. I had an account at Raymond James 10 years ago and lost 40% of it's value in 6 months in what were suppose to be safe investments.
NEWT did not reduce the dividend rather they typically have employed a base dividend that grows over the course the year at each quarter and also may include a special/extra dividend paid late in the year. As someone (poorly) explained below, the YOY dividend already announced for MAR/2020 is HIGHER by 10% than MAR/2019. And this is the initial dividend of the year (which typically grows during each year).
NEWT in plat big-time with SBA and PPP as government open up application.
look for a good return on NEWT. Should be 22-25 in near future with excellent dividends.
"Barry Sloane, President, Chairman and CEO said, “We greatly appreciate the opportunity to service independent business owners across the U.S., and we are currently submitting first- and second-draw PPP loan applications to the SBA on behalf of our customers. We appreciate the SBA designating NSBF in the first lender group, which will assist our borrowers in having priority in their receipt of their SBA loan (E-Tran)"
This feels like the buy of a lifetime w/ SBA7(a) book fully insured for 6 months + fee/ servicing income on PPP program. Looks like large insider buys from Barry and team to support. What am i missing here?
I just bought stock today. Since it was the ex-dividend date will I be paid dividends next time around?
3Q dividend announcement is due at any time (last on 5/11). We already know it will be significantly higher than Q2's .42 dividend, perhaps REALLY higher. They've been clicking on all cylinders this year. I'm guessing at least .49-.50 cents, about 20% higher than previous.
Just received my Special Meeting of Shareholders 8/2/2019 proxy. OMG they are proposing to sell up to 20% of common shares below NAV WITHOUT LIMIT. ".....there will be no limit on the percentage below NAV at which our Common Shares may be sold........" This would be effective immediately upon affirmative vote of the shareholders. DILUTION ON STEROIDS If I am somehow misreading this, would someone more informed in this regard please reply? In the meantime, my sell stop's in!
The stock is rolling over on serious volume today. I sold last week when it was struggling to move higher after owning it for over 2 years. Its done well but its trading 30% over NAV and its just gotten beyond fully valued. I'm back if it trends down around $18 or so.
no news and down $1.47 WHY? any info or news leak
what's going on? any thoughts? I was up 40% a month or so ago, now only up 15%... everyday down, down, down.
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