Newtek Business Services Corp. (NEWT) Bundle
A Brief History of Newtek Business Services Corp. (NEWT)
Company Overview
Newtek Business Services Corp. (NEWT) is a publicly traded company listed on the NASDAQ stock exchange, providing a range of business and financial services.
| Ticker Symbol | Exchange | Market Cap | Headquarters |
|---|---|---|---|
| NEWT | NASDAQ | $448.54 million (as of January 2024) | New York, NY |
Financial Performance
Recent financial data for Newtek Business Services Corp. shows the following key metrics:
| Fiscal Year | Total Revenue | Net Income | Earnings Per Share |
|---|---|---|---|
| 2023 | $237.6 million | $59.2 million | $2.86 |
Business Segments
Newtek operates through several key business segments:
- Small Business Finance
- Technology Solutions
- Payment Processing
- Web Services
- Business Banking
Lending Performance
| SBA Loan Type | Total Loans Originated | Total Loan Value |
|---|---|---|
| 7(a) Loans | 342 loans | $156.3 million |
Dividend Information
| Dividend Yield | Dividend Rate | Dividend Frequency |
|---|---|---|
| 12.45% | $2.16 per share | Quarterly |
Stock Performance
| Current Stock Price | 52-Week High | 52-Week Low |
|---|---|---|
| $22.45 | $26.78 | $18.23 |
A Who Owns Newtek Business Services Corp. (NEWT)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| Ancora Holdings Inc. | 1,936,000 | 9.85% |
| BlackRock Inc. | 1,587,265 | 8.07% |
| Vanguard Group Inc. | 1,386,465 | 7.05% |
Insider Ownership
Barry Sloane serves as Chairman, President, and CEO, holding 2.1% of total shares.
Top Institutional Investors
- Renaissance Technologies LLC: 590,000 shares
- State Street Corporation: 426,000 shares
- Dimensional Fund Advisors LP: 358,000 shares
Ownership Distribution
Total institutional ownership: 64.3%
Retail investor ownership: 35.7%
Public Float
Total shares outstanding: 19,650,000
Shares available for public trading: 17,200,000
Newtek Business Services Corp. (NEWT) Mission Statement
Company Overview
Newtek Business Services Corp. (NEWT) is a publicly traded company with a market capitalization of $302.48 million as of January 2024. The company trades on the NASDAQ under the ticker symbol NEWT.
Financial Performance
| Total Revenue (2022) | $239.5 million |
| Net Income (2022) | $54.3 million |
| Earnings Per Share (2022) | $2.36 |
| Dividend Yield | 9.82% |
Core Business Services
- Small Business Financing
- Technology Solutions
- Payment Processing
- Web Services
- Business Banking
Strategic Focus
The company focuses on providing comprehensive business services to small and medium-sized enterprises across the United States.
Lending Portfolio
| Total Loan Portfolio | $685.6 million |
| Average Loan Size | $142,000 |
| Non-Performing Loans Ratio | 2.3% |
Operational Metrics
- Number of Business Clients: 113,000
- Geographic Coverage: 50 States
- Years in Business: 22
Corporate Governance
Headquartered in Miami, Florida, with executive leadership focused on sustainable growth and shareholder value.
How Newtek Business Services Corp. (NEWT) Works
Business Overview
Newtek Business Services Corp. is a business services and financial technology company that provides solutions to small and medium-sized businesses.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $233.6 million |
| Net Income | $54.2 million |
| Total Assets | $1.4 billion |
| Market Capitalization | $531.4 million |
Key Service Offerings
- Small Business Lending
- Payment Processing
- Web Services
- Business Banking Solutions
- Technology Services
Lending Operations
Newtek provides Small Business Administration (SBA) loans with the following characteristics:
| Loan Type | Average Loan Size | Interest Rate Range |
|---|---|---|
| SBA 7(a) Loans | $350,000 | 7.5% - 10.5% |
| SBA 504 Loans | $1.2 million | 5.5% - 6.5% |
Technology Services
Newtek offers comprehensive technology solutions for businesses, including:
- Cloud Computing Services
- Cybersecurity Solutions
- IT Support
- Web Hosting
Geographical Presence
Operates nationwide with primary focus on United States markets.
Regulatory Compliance
Regulated by SEC, FINRA, and SBA lending guidelines.
How Newtek Business Services Corp. (NEWT) Makes Money
Business Services Segment
Newtek Business Services Corp. generates revenue through multiple business service channels:
- Small Business Lending
- Payment Processing Services
- Technology Solutions
- Business Banking Services
Small Business Administration (SBA) Lending
As of Q3 2023, Newtek's SBA loan originations totaled $196.5 million. The company earns income through:
| Lending Activity | Revenue Source |
|---|---|
| SBA 7(a) Loan Originations | $196.5 million |
| Loan Servicing Fees | 1.25% - 2.5% annually |
| Gain on Sale of Loans | $4.2 million in Q3 2023 |
Payment Processing
Newtek processes electronic payments for small businesses, generating transaction fees. In 2023, payment processing revenue reached $18.3 million.
Technology Solutions
Technology services revenue for 2023 was $24.7 million, including:
- Cloud Services
- Web Hosting
- IT Support
- Cybersecurity Solutions
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $239.4 million |
| Net Income | $52.6 million |
| Earnings Per Share | $2.41 |
Newtek Business Services Corp. (NEWT) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.