NEWT - Newtek Business Services Corp.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
17.29
-0.15 (-0.86%)
As of 1:50PM EDT. Market open.
Stock chart is not supported by your current browser
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close17.44
Open17.52
Bid17.22 x 1100
Ask17.30 x 1400
Day's Range17.24 - 17.65
52 Week Range7.59 - 23.99
Volume112,323
Avg. Volume176,282
Market Cap361.389M
Beta (5Y Monthly)1.38
PE Ratio (TTM)13.78
EPS (TTM)1.25
Earnings DateAug 04, 2020 - Aug 10, 2020
Forward Dividend & Yield2.24 (12.44%)
Ex-Dividend DateJul 14, 2020
1y Target Est16.50
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Near Fair Value
7% Est. Return
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
View more
  • GlobeNewswire

    Newtek Small Business Finance Funded Approximately $1.125 Billion of Paycheck Protection Program (PPP) Loans To Date

    BOCA RATON, Fla., July 14, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance, LLC (“NSBF”), the Company’s nationally licensed lender under the U.S. Small Business Administration (“SBA”) Section 7(a) Program, has funded approximately $1.125 billion of Paycheck Protection Program (“PPP”) loans of its total pipeline of $1.145 billion of PPP loans with SBA loan (E-Tran) numbers to date.  NSBF estimates that upwards of 130,000 employees could be retained by NSBF’s PPP borrowers if NSBF’s total potential funding of $1.145 billion of PPP loans is reached.  NSBF estimates it will fund in whole or part of its remaining $20 million of PPP loans with SBA loan (E-Tran) numbers.  The PPP program is still ongoing and NSBF expects to accept PPP loan applications through August 8, 2020.  As of Monday, July 6, 2020, there was in excess of $130 billion of appropriation remaining for PPP loans. Barry Sloane, Chairman, President and Chief Executive Officer said, “Despite the headwinds the United States is currently facing with regards to the COVID-19 pandemic and significant economic contraction, the Company and its management team has sharpened and narrowed its focus with the intent of being able to deliver results to its shareholders during these trying economic times.  The tremendous media attention and its consistent discussion of uncertainty relating to the pandemic has created a level of fear and uncertainty in the economy, amongst its consumers and throughout the investment community.  With the current backdrop, prior to our Q2 2020 earning’s release on August 5, 2020, we felt it relevant to release certain key metrics to our investors with respect to Newtek and the economy.  NSBF funded and closed $1.1 billion of PPP loans for the quarter ended June 30, 2020.  We are currently estimating that by August 8, 2020, which is the final date to apply for the current round of PPP funding, NSBF will have funded and closed between $1.14 billion to $1.16 billion of PPP loans.  NSBF is beginning to rebuild its pipeline of SBA 7(a) loans and will provide additional guidance in this regard on our upcoming Q2 2020 shareholder conference call.  Based upon early commentary from Senator Ben Cardin of Maryland, Senator Marco Rubio of Florida, officials from the administration and a House Bill with $3 trillion of stimulus passed, we believe that there may be additional rounds of PPP funding available to businesses that have been affected by COVID-19, with a continued focus on smaller business clientele.  It is hopeful that a draft of this legislation will appear from the Senate within the next two weeks, as it has already been a part of the recently passed House stimulus bill.”Barry Sloane continued, “Our portfolio company payment processing metrics, which measure our portfolio of clients that accept Visa, Discover, Mastercard and American Express, appear to be rebounding.  While our portfolio company payment processing volume decreased year over year by 37% in April, 27% in May, and 14% in June, throughout the first 11 days of July, processing volumes are flat to slightly down compared to the same period last year.  We believe this is indicative of robust consumer spending even though many vital northeastern economies, as well as an important geography in Miami-Dade County, Florida, still have limitations on indoor dining and gyms.  It is extremely challenging to forecast economic opportunities in the immediate future given the mix of information coming from federal, state and local governments.  The Company believes that it will be able to sustain further roadblocks, setbacks and impediments to economic viability and growth, and that it is well positioned to solve its clients’ needs through government-sponsored financing, state-of-the-art ecommerce solutions, and cloud-based technological solutions to enable businesses to operate remotely with flexibility.  As legislation in Washington occurs regarding future developments in the PPP and further support for the SBA 7(a) program, we aim to keep our focus constructive, but cautious, as a jagged recovery is anticipated to continue.  We look forward to reporting record adjusted net investment income for the second quarter 2020 and other key metrics regarding our business portfolio and opportunities going forward.  We remain cautiously optimistic about our business opportunities and future prospects.”About Newtek Business Services Corp.Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.Newtek® and Your Business Solutions Company®, are registered trademarks of Newtek Business Services Corp.Note Regarding Forward Looking StatementsThis press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov/. Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.SOURCE: Newtek Business Services Corp.Investor Relations & Public Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / jcavuoto@newtekone.com

  • GlobeNewswire

    Newtek Business Services Corp. to Report Second Quarter 2020 Financial Results on Wednesday, August 5, 2020 After the Market Closes

    BOCA RATON, Fla., July 13, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will.

  • Should Value Investors Pick Newtek Business Services (NEWT)?
    Zacks

    Should Value Investors Pick Newtek Business Services (NEWT)?

    Is Newtek Business Services (NEWT) a great pick from the value investor's perspective right now? Read on to know more.

  • GlobeNewswire

    Newtek Small Business Finance Announces Restart of its SBA 7(a) Loan Program

    Newtek Business Services Corp., (NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance (“NSBF”), the Company’s nationally licensed lender under the U.S. Small Business Administration (“SBA”) Section 7(a) Program, will restart its SBA 7(a) loan program and begin accepting applications on June 29, 2020. NSBF plans to reenter its SBA 7(a) loan program in a cautious and measured manner, and will look to finance businesses based on the health of their balance sheets and income statements, pre-Covid-19 business activity and the business’ forward projections.

  • Hedge Funds Are Nibbling On Newtek Business Services Corp (NEWT)
    Insider Monkey

    Hedge Funds Are Nibbling On Newtek Business Services Corp (NEWT)

    In this article we will take a look at whether hedge funds think Newtek Business Services Corp (NASDAQ:NEWT) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]

  • Near-Term Outlook Dim for SBIC & Commercial Finance Industry
    Zacks

    Near-Term Outlook Dim for SBIC & Commercial Finance Industry

    Near-Term Outlook Dim for SBIC & Commercial Finance Industry

  • GlobeNewswire

    Newtek Business Services Corp. Declares Dividend of $0.56 per Share for the Second Quarter of 2020

    Newtek Business Services Corp., (NEWT), an internally managed business development company (“BDC”), today announced that its Board of Directors declared a second quarter 2020 cash dividend of $0.561 per share, which represents a 21.7% increase over the second quarter 2019 cash dividend. The second quarter 2020 dividend is payable on July 31, 2020 to shareholders of record as of July 15, 2020.

  • GlobeNewswire

    Newtek Business Services Corp. Declares Second Quarter 2020 Dividend of $0.56 per Share

    BOCA RATON, Fla., June 12, 2020 -- Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), today announced that its Board of.

  • GlobeNewswire

    Newtek Small Business Finance Closed or Funded Approximately $1.0 Billion of Paycheck Protection Program (PPP) Loans To Date

    BOCA RATON, Fla., June 02, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small.

  • Thomson Reuters StreetEvents

    Edited Transcript of NEWT earnings conference call or presentation 8-May-20 12:30pm GMT

    Q1 2020 Newtek Business Services Corp Earnings Call

  • GlobeNewswire

    Newtek Small Business Finance Has Funded and Approved Approximately $700 Million of Paycheck Protection Program (PPP) Loans To Date

    BOCA RATON, Fla., May 12, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small.

  • Newtek Business Services Corp (NEWT) Q1 2020 Earnings Call Transcript
    Motley Fool

    Newtek Business Services Corp (NEWT) Q1 2020 Earnings Call Transcript

    NEWT earnings call for the period ending March 31, 2020.

  • GlobeNewswire

    Newtek Business Services Corp. Reports First Quarter 2020 Financial Results

    BOCA RATON, Fla., May 07, 2020 -- Newtek Business Services Corp. (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”),.

  • GlobeNewswire

    Newtek Small Business Finance Lends Financial Support To Credit Unions and Their Members Through PPP Loans

    BOCA RATON, Fla., May 07, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small.

  • GlobeNewswire

    Newtek Small Business Finance Obtains SBA Loan (E-Tran) Numbers for $1.1 Billion of Paycheck Protection Program (PPP) Loans

    BOCA RATON, Fla., May 04, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small.

  • GlobeNewswire

    Newtek Small Business Finance Funded $518.2 Million of Paycheck Protection Program Loans From First Government Allocation of PPP Funding

    BOCA RATON, Fla., April 27, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek.

  • GlobeNewswire

    Newtek Business Services Corp. to Report First Quarter 2020 Financial Results on Thursday, May 7, 2020 After the Market Closes

    BOCA RATON, Fla., April 22, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will.

  • GlobeNewswire

    Newtek Small Business Finance Obtains $548 Million in E-Tran Numbers For Paycheck Protection Program (PPP) Loans To-Date

    Newtek Business Services Corp., (NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance, LLC (“NSBF”), the Company’s nationally licensed lender under the U.S. Small Business Administration (“SBA”) Section 7(a) Program, currently expects to fund upwards of $340 million of PPP loans by the close of business on Tuesday. As of today, NSBF has approved and obtained SBA E-Tran (loan) numbers for $548 million of PPP loans (which includes the $340 million of  PPP loans to be funded by the end of the day, and $208 million of PPP loans awaiting funding), since the PPP program commenced.

  • American City Business Journals

    South Florida lender to fund up to $250M in PPP loans this week

    Newtek Small Business Finance (NSBF) expects to fund up to $250 million in Paycheck Protection Program loans this week, which is expected to cover the payroll of an estimated 20,000 employees. The company, headquartered in Boca Raton, is the U.S. Small Business Association-approved lender for Newtek Business Services Corp. (Nasdaq: NEWT), its parent company. “The continuing operations of small businesses are crucial to the recovery and health of the U.S. economy, as they make up approximately 50% of non-farm GDP," said chairman and CEO Barry Sloane.

  • GlobeNewswire

    Newtek Small Business Finance Helps Businesses Retain 20,000 Employees Through Paycheck Protection Program (PPP) Loans

    BOCA RATON, Fla., April 13, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek.

  • GlobeNewswire

    Newtek Small Business Finance Funds First Group of Paycheck Protection Program (PPP) Loans For Its Clients

    BOCA RATON, Fla., April 10, 2020 -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek.

  • GlobeNewswire

    STIFEL TO SERVE AS GATEWAY TO SMALL BUSINESS ADMINITRATION’S PAYCHECK PROTECTION PROGRAM

    ST. LOUIS, April 08, 2020 -- Stifel Financial Corp. (NYSE: SF) today announced that it is participating in the federal government’s new Paycheck Protection Program (PPP),.

  • GlobeNewswire

    Newtek Business Services Corp. Outlines Sections of the $2.0 Trillion Coronavirus Stimulus Package as it Relates to its SBA 7(a) Business

    Newtek Business Services Corp., (NEWT), an internally managed business development company (“BDC”), today outlined  sections of the recently passed Coronavirus Aid, Relief and Economic Security Act (“CARES Act”),  the  $2.0 trillion  stimulus package, that relate to the efforts of Newtek Small Business Finance (“NSBF”), Newtek’s nationally licensed U.S. Small Business Administration (“SBA”) lender subsidiary, to support American small businesses in these challenging times. Pursuant to the CARES Act, Section 1112, Congress has determined that all existing borrowers under the SBA Section 7(a) program are adversely affected by COVID-19, and are therefore entitled to a subsidy in the form of relief payments. Specifically, the CARES Act provides that the SBA will pay the principal and interest on any existing and current SBA 7(a) loan for a period of six months.

  • GlobeNewswire

    Newtek Small Business Finance Positioned to Extend Capital to Small- and Medium-Sized Businesses as Part of the Proposed Coronavirus Aid, Relief and Economic Security Act (CARES Act)

    Newtek Business Services Corp., (NEWT), an internally managed business development company (“BDC”), today announced that Newtek Small Business Finance (“NSBF”), the Company’s nationally licensed SBA-lender subsidiary, is  prepared to extend capital to small- and medium-sized businesses as part of the proposed Coronavirus Aid, Relief and Economic Security Act (CARES Act) that is currently under consideration in the U.S. Senate. The proposal in its current form includes $350 billion to be allocated for Small Business Interruption Loans, which would assist small businesses with fewer than 500 employees affected by the pandemic by providing loans under the Small Business Administration (“SBA”) Section 7(a) program to cover their payroll and other working capital expenses.

  • Thomson Reuters StreetEvents

    Edited Transcript of NEWT earnings conference call or presentation 5-Mar-20 1:30pm GMT

    Q4 2019 Newtek Business Services Corp Earnings Call