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Newtek: Massive Gains To Date, And More Dividend Growth To Come
May 27, 2021
Summary
Newtek has performed very well in early 2021, both in terms of generating share price gains, and operationally.
This year will see the company return record amounts of cash to its owners.
Investors get a high dividend yield, but the outlook for 2022 and beyond is less certain for now.
Article Thesis
Newtek Business Services (NEWT) is a business development company that has performed well during the pandemic and continues to generate strong results. Shares have risen by more than 60% in 2021, but they may still be attractive for investors, especially since the company recently announced that it would boost its dividends massively this year. Investors can, despite recent strong share price gains, still get a yield of close to 10% from Newtek right here.
Strong Performance For The Stock And The Business
Looking at Newtek's stock performance in 2021, we see that shares have risen by a very attractive 61% so far, not including dividends yet, which added another couple of percentage points. That is, for a five-month span, a very strong gain. This was driven by two factors, which are multiple expansion (mainly due to the fact that the market realized the outlook is a lot better than previously thought) and a strong operating performance.
Newtek's business, even though it may sound like a cyclical business that is vulnerable during recessions, has actually performed well during 2020, and even more so in early 2021. Demand for loans from small and medium-sized businesses was high during 2020, which allowed Newtek to offer a large number of loans to the companies it is doing business with. This is why, overall, revenues rose quite a lot last year, especially during the second quarter, when Newtek saw massive tailwinds from government programs that were aimed at providing liquidity for small businesses across the US, such as the Payment Protection Program (PPP). These were, in many cases, issued through banks or BDCs like Newtek, which earned large fees on those loan originations, which came with very little additional risk for these financial corporations.
In 2021, Newtek will, according to management, generate attractive business growth as well, on the back of the economic reopening across the US that will see businesses expand their operations, which translates into demand for additional liquidity. Newtek does, unlike many other BDCs, also offer other services and solutions to its customers on top of providing loans, including merchant solutions, technology services, and insurance agency solutions. Demand for the first two, primarily, is tied to economic growth, thus Newtek should see tailwinds for these services that it provides for customers during the current year, as the economy is getting back on track. Since the US government continues with its very loose fiscal policies, even the pandemic-related business units Newtek profited from in 2020 will continue to generate results in 2021. Newtek is, for example, forecasting that it will fund more than $600 million of PPP loans this year, with more than 10,000 individual clients being served by Newtek. Newtek also plans to issue hundreds of millions of dollars worth of loans through the SBA programs 7(a) and 504. These loans, partially guaranteed by the Small Business Administration, come with relatively low risks for Newtek and are thus very attractive for the company to issue. The same holds true for PPP loans, which are 100% guaranteed by the federal government, which means that there is no credit risk for Newtek at all.
Thanks to these tailwinds for its business, Newtek was able to generate a highly attractive adjusted net investment income of $1.05 per share during the first quarter, a massive increase versus the previous year's first quarter, which had seen below-average loan issuance. The company also was able to increase its net asset value per share by a highly attractive 5.4% during the first quarter, which is well north of 20% annualized. This was possible despite high dividend payments of $0.50 per share during Q1. It should, however, be noted that Newtek's current net asset value per share, even following Q1's strong growth, stands at below $17, and is thus substantially smaller than the company's current share price. Due to the fact that Newtek does not generate all of its earnings through its loan portfolio, but also through services such as merchant solutions, Newtek's NAV is, however, less telling than that of more traditional BDCs, where NAV and earnings are closely tied to each other.
Newtek's solid performance in recent years, including during the pandemic, has allowed the company to access capital markets at more favorable terms compared to the past - with relaxed monetary policy by the Fed likely playing a role as well. Newtek has, during the first quarter, issued baby bonds with a yield of 5.5%, using the proceeds to retire older debt at a rate of 6.5%. Even though a 5.5% rate isn't ultra-low, this is still better than the rates the company had to pay in the past, and since maturities were also pushed back through this transaction (to 2026, instead of 2023), this also improves Newtek's debt maturity schedule.
2021 Will Be A Great Year, And Investors Will Get Massive Dividends
Due to the aforementioned tailwinds for Newtek during this year, the company is expected to earn $3.10 this year, according to the analyst community consensus estimate. Newtek's management seems to see even higher profits, although no exact guidance has been given so far. This can be deducted from the following slide:
Source: Newtek presentation
With dividends being forecasted at $3.15, plus or minus $0.15, and due to the goal of covering dividend payments with the taxable income that Newtek generates, one could assume that management sees profits of $3.15, or potentially even more than that. But even when we go with the current analyst consensus estimate of $3.10, that would still be a steep increase versus the $2.06 that Newtek has earned in 2020. This year's expected net profits are also way higher than the $2.32 that Newtek earned in 2019 before the pandemic hit.
Newtek's dividend forecast of $3.15 for the current year compares very favorably to past dividend payments, which totaled $2.05 in 2020, and $2.15 in 2019. On a year-over-year basis, Newtek plans to increase its dividend by more than 50% in 2021, using the midpoint of management's guidance. It should be noted that management guidance has oftentimes been conservative in the past and that investors have seen several upside revisions. There is, of course, no guarantee that this will happen again.
Based on a current share price of $33, shares offer a dividend yield of 9.5% at the midpoint of the guidance range. Since $1.20 has been declared for Q1 and Q2, Newtek will pay about $1.95 during H2, which will equate to ~6% of the current share price. Since the Q2 dividend has not yet been paid (the ex-date is June 14), investors that buy today would receive about $2.65, or 8% of their investment between today and the end of the year.
The news about the increased dividend forecast for 2021 has propelled shares higher, and together with the previous gains during early 2021, Newtek has now delivered a huge return for investors this year. Even though shares are still not looking expensive relative to this year's expected earnings, it is, of course, clear that Newtek will not continue to deliver returns of 10% a month as the stock has done so far in 2021. It should also be noted that the current analyst consensus sees earnings decline in 2022 relative to what is forecasted for 2021, so Newtek's stock may stop its upwards trajectory in the foreseeable future.
Takeaway
Newtek is an attractive BDC with strong management, a great track record, and a diversified business model that does not solely rely on loan issuance. We first issued a bullish rating on Newtek on January 2 on Seeking Alpha's public site, and about one month earlier on Cash Flow Kingdom. Shares are up by 65% and 80% since those articles were published, not including dividends. Newtek will continue to return large amounts of cash to its owners this year, and its dividend yield still looks quite attractive. Since there is the possibility that dividends get cut in 2022, if the analyst community is right about earnings declining next year, I personally don't plan to add to my Newtek position right here, following this year's strong run. But those that want to see a large cash return this year, and that is more optimistic about Newtek's growth potential in 2022 and beyond may still find shares attractive today, even after the large share price gains that investors already experienced over the last couple of months.
Grabbed some $17.05's today, Loving the .03 cents divy increase.
Newtek Business (NASDAQ:NEWT) declares $0.58/share quarterly dividend, 3.6% increase from prior dividend of $0.56.
Forward yield 13.41%
Payable Sept. 30; for shareholders of record Sept. 21; ex-div Sept. 18.
Newtek Business (NASDAQ:NEWT) declares $0.44/share quarterly dividend.
Forward yield 8.39%
Payable March 31; for shareholders of record March 18; ex-div March 17.
Newtek Business (NASDAQ:NEWT) declares $0.71/share quarterly dividend,
22.4% increase from prior dividend of $0.58.
Forward yield 13.46%
Payable Dec. 30; for shareholders of record Dec. 16; ex-div Dec. 13.
Newtek Business (NASDAQ:NEWT) declares $0.58/share quarterly dividend, 26.1% increase from prior dividend of $0.46.
Forward yield 10.69%
Payable Sept. 30; for shareholders of record Sept. 20; ex-div Sept. 19.
Newtek Business Services extends its stock repurchase program
Jun. 21, 2019 8:45 AM ET|About: Newtek Business Services... (NEWT)|By: Gaurav Batavia, SA News Editor
Newtek Business Services (NASDAQ:NEWT) adds 0.3M common shares (1.6% of outstanding shares) under its current repurchase program
Newtek Business (NASDAQ:NEWT) declares $0.46/share quarterly dividend, 15% increase from prior dividend of $0.40.
Forward yield 8.59%
Payable June 28; for shareholders of record June 14; ex-div June 13.
Newtek Business (NASDAQ:NEWT): Q1 Non-GAAP NII of $0.44 beats by $0.03; GAAP NII of -$0.05.
Total investment income of $13.76M (+24.3% Y/Y) beats by $0.24M.
Made all 3 purchases and in the green so far. Going place a trailing stop and raise if it keeps chipping away like this. Will have to see where I stand come dividend announcement!
This is rising faster that anticipated had to scale in another 500 today bringing my NEWT inventory up to 1000.
Looking nice!
That news seems to have propped the price ? I was hoping to scale in lower might have to add soon before it rises too fast!
Newtek Business Services Corp. Raises 2019 Annual Dividend Forecast to a Range of $1.85 to $1.86 per Share
Took a starter of 500 units going to average in with 3 leg purchases of 500 each.
going start re building a position here first inventory purchase soon.
they have been showing nice numbers and getting good write up Looking for a 25% gain along with collecting a nice dividend!
Cant argue with dividend increases as many are decreasing. That always a great sign of things to come.
under 20 and it is back on the watch list! Been insider buying also! Dividend has been increasing while others are dropping that's a good sign!
Been getting nice write ups on SA as well!
Nice save! Looks like new ops are in the works
NEWT Meets 2018 Annual Dividend Guidance of $1.80 per share
Newtek Business Services Corp. (“Newtek”) (Nasdaq: NEWT), an internally managed business development company ("BDC"), today announced that its Board of Directors declared a fourth quarter 2018 cash dividend1 of $0.50 per share. The fourth quarter dividend is payable on December 28, 2018 to shareholders of record as of December 18, 2018. The payment of the fourth quarter 2018 dividend is in line with the Company’s 2018 annual dividend guidance of $1.80 per share, which represents an approximate 9.8% increase over the 2017 annual cash dividend of $1.64 per share.
Was stopped out of NEWT at 21.5 will watch for a while and see where it goes. It was good to me!
NEWT doing its thing here hitting a new high another 10 cents a day the next two days before X date and I will be a happy camper when the price drops .44 on Xday so I will still be in the money and have .44 land in my pocket! Go NEWT......
Got my finger on the trigger here and it's getting itchy! Xdate coming up...
I will do my best! I am in for at least 500 shares. more if I have a nice trade before than. MY SFL will be past its X date before this one so I might do a lateral switch to here but I really like SFL it will be paying .45 a share in Late Sept and is trading just under 14 a share for a 13%.
Way too many nice paying stocks out there. I defiantly also have enough funds ear marked for 200 shares of NS insiders been buying it all year and with 1.10 div it's a no brainer at it's current price!
Happy Trading!
This site says the 21st also
http://thestockmarketwatch.com/stock/?stock=NEWT
I hate it when there are so many variations. I'll go with the 18th and I'd like to get'm in the mid $16.00's, make that happen Lefty, will ya!
Looks like it would be the 19TH so we need to buy it latest on the 18th. Not 100 percent sure my ameritrade says X date 21 but that can't be right. the PR said 19th.
with rising dividend and rising chart YTD this one looks real strong at the moment. Servicing SBA loans sounds good as well!
I will probably be a shopper here!
Newtek Declares Third Quarter 2017 Dividend of $0.44 per Share
Increases 2017 Annual Cash Dividend Forecast to $1.64 per Share; an Approximate 7.2% Increase Over the 2016 Annual Dividend
Lake Success, N.Y. - August 21, 2017 - Newtek Business Services Corp. (“Newtek” or the “Company”), (NASDAQ: NEWT), an internally managed business development company ("BDC"), today announced that its Board of Directors declared a third quarter 2017 cash dividend(1) of $0.44 per share, payable on September 29, 2017 to shareholders of record as of September 22, 2017. In addition, the Company increased its 2017 annual cash dividend forecast by $0.07 per share, to $1.64(2) per share, which represents an approximate 7.2% increase over the 2016 annual cash dividend of $1.53 per share and an approximate 4.5% increase over the Company’s previous 2017 annual dividend forecast of $1.57 per share.
Barry Sloane, Chairman, President and Chief Executive Officer commented, “We are pleased to announce the Board’s declaration of our third quarter 2017 cash dividend of $0.44 per share, and the increase in our 2017 annual dividend forecast to $1.64 per share. We believe our business model continues to perform with growth in our loan originations and a robust pipeline of potential portfolio company investment targets at its forefront.”
Note regarding Dividend Payments: The Company's Board of Directors expects to maintain a dividend policy with the objective of making quarterly distributions in an amount that approximates 90 - 100% of the Company's annual taxable income. The determination of the tax attributes of the Company's distributions is made annually as of the end of the Company's fiscal year based upon its taxable income for the full year and distributions paid for the full year.
(1)
The dividend will be paid in cash, or shares of the Company's Common Stock through participation in the Company's dividend reinvestment program (“DRIP”), at the election of shareholders.
(2)
Amount and timing of dividends, if any, remain subject to the discretion of the Company’s Board of Directors.
looking at a 20 year chart the low was in 2008-9 at .80 cents currently it is paying a nice dividend with steady increasing amounts over the past few years.
This came up on one of my dividend stock payers as a strong investment. The chart shows a steady climb since 2009.
I am giving some consideration to an opening position before the upcoming X date of 9/21 with a .44 distribution pay on 9/29. A .04 increase from the last quarter dividend for a 10 % return at the current price of 17 a share.
This stock looks strong to me.
LoL! I remember when this was sub-penny.....
They must've had an RS, no?
$NEWT DD Notes ~ http://www.ddnotesmaker.com/NEWT
bullish
see what it can do with a close stop
$NEWT recent news/filings
## source: finance.yahoo.com
Thu, 23 Oct 2014 16:30:04 GMT ~ Small Business Economy Continues To Grow Modestly
[at noodls] - NEW YORK, Oct. 23, 2014 /PRNewswire/ -- NASDAQ: NEWT, The Small Business Authority®, announced today the release of the SB Authority Index of small business indicators for September 2014 which reached ...
read full: http://www.noodls.com/view/A9917D28A5EBB41CE374DCF072F8F6F39F020416
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Thu, 23 Oct 2014 16:20:00 GMT ~ Small Business Economy Continues To Grow Modestly
[PR Newswire] - NEW YORK, Oct. 23, 2014 /PRNewswire/ -- Newtek Business Services, Inc. NASDAQ: NEWT, The Small Business Authority ® , announced today the release of the SB Authority Index of small business indicators ...
read full: http://finance.yahoo.com/news/small-business-economy-continues-grow-162000733.html
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Wed, 22 Oct 2014 20:50:30 GMT ~ NEWTEK BUSINESS SERVICES, INC. Files SEC form 8-K, Submission of Matters to a Vote of Security Holders, Financial Sta
read full: http://biz.yahoo.com/e/141022/newt8-k.html
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Wed, 22 Oct 2014 16:10:20 GMT ~ Newtek Announces Shareholder Approval of Conversion to Business Development Company ("BDC") and Reverse Stock Split
[at noodls] - NEW YORK, Oct. 22, 2014 /PRNewswire/ -- (NASDAQ: NEWT), The Small Business Authority®, announced today the results of the voting by its shareholders at its Special Meeting of Shareholders, which convened ...
read full: http://www.noodls.com/view/B93761F9F87C6CAF6FCC4FD49461249BCA03BA38
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Wed, 22 Oct 2014 15:17:00 GMT ~ 11:17 am Newtech announces shareholder approval of conversion to Business Development Company and reverse stock split; multiple special meeting proposals approved by over 90% of voting shareholders
read full: http://finance.yahoo.com/news/inplay-briefing-com-055139997.html#newt
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$NEWT charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$NEWT company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/NEWT/company-info
Ticker: $NEWT
OTC Market Place: Not Available
CIK code: 0001094019
Company name: Newtek Business Services, Inc.
Company website: http://www.newtekbusinessservices.com
Incorporated In: NY, USA
$NEWT share structure
## source: otcmarkets.com
Market Value: Not Available
Shares Outstanding: 7,558,021 a/o Oct 23, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.02
$NEWT extra dd links
Company name: Newtek Business Services, Inc.
Company website: http://www.newtekbusinessservices.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=NEWT+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=NEWT+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=NEWT+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/NEWT/news - http://finance.yahoo.com/q/h?s=NEWT+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/NEWT/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/NEWT/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=NEWT+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/NEWT
DTCC (dtcc.com): http://search2.dtcc.com/?q=Newtek+Business+Services%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Newtek+Business+Services%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Newtek+Business+Services%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.newtekbusinessservices.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.newtekbusinessservices.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.newtekbusinessservices.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/NEWT
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001094019&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/NEWT/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/NEWT/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=NEWT&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=NEWT
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/NEWT/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=NEWT+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=NEWT+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=NEWT
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=NEWT
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=NEWT+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/NEWT/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=NEWT+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/NEWT.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=NEWT
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/NEWT/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/NEWT/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/NEWT
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/NEWT
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/NEWT:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=NEWT
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=NEWT
$NEWT DD Notes ~ http://www.ddnotesmaker.com/NEWT
It is indeed time to buy NEWT. It's on MSN's top ranked stocks.
NEWT has been and will continue to be one of my solid investments. I am in the green here very nicely !
Holding Strongly..!
I am a buyer of $NEWT. Looking for a reversal confirmation and I am loading big here!
~ Wednesday! $NEWT ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $NEWT ~ Earnings expected on Wednesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=NEWT&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=NEWT&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=NEWT
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=NEWT#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=NEWT+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=NEWT
Finviz: http://finviz.com/quote.ashx?t=NEWT
~ BusyStock: http://busystock.com/i.php?s=NEWT&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=NEWT >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
NEWT Barry Sloane of Newtek Business Services chats with host Tobin Smith about why they're the Small Business Authority and how his company's business model is perfect for this market.
http://www.equities.com/equities-tv?s=newt#tabs-2
NEWT Set to Present at the RedChip Small Cap Conference in New York City; as the Company Inks Deal with Discover
Newtek Business Services, Inc. (Nasdaq: NEWT) recently reported that its electronic payment processing division, under the Newtek(TM) brand, has entered into a merchant acquiring agreement with Discover Financial Services, a business unit of Morgan Stanley (NYSE: MS - News).
Newtek is one of the first business solutions providers to implement and market such an agreement with Discover.
This agreement will allow Newtek Electronic Payment Processing to offer an integrated payment card processing package that includes Discover Network card acceptance to all of its customers.
Under the terms of the agreement, Newtek Electronic Payment Processing will offer small to mid-sized businesses the convenience of consolidated statements, combined settlement, and customer service.
Newtek Electronic Payment Processing will have full responsibility for pricing, processing, settlement, risk management and customer service for the customer accounts.
Newtek Business Services, Inc. is a direct distributor to the small to medium-sized business market under the Newtek(TM) brand. According to the SBA, there are over 25.8 million small businesses in the United States, which in total represent 99.7% of all employer firms, generate 60 - 80% of all new jobs annually and create more than 50% of non-farm private GDP.
Since 1999, Newtek has helped these business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses. Newtek focuses on providing its 78,000 customers with access to financial, management and technological resources that enable them to better grow and compete in today’s marketplace.
"Please see the disclaimers on the QualityStocks.net website."
I've never looked at this stock best I can recall but had a dream about the symbol last night!
So now we have a board for them.
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