NewtekOne, Inc.
- Open
- 14.77
- Day high
- 15.24
- Day low
- 14.68
- Prev close
- 14.81
- Volume
- 72K
- Mkt cap
- $437M
- P/E (TTM)
- 6.3
- EPS (TTM)
- $2.42
- P/B
- 1.1
- P/S
- 1.3
- Yield
- 6.27%
- Per share
- $0.95
- ▲Insiders net buying $217K over the last 3 months (9 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
NewtekOne, Inc. (NEWT) is a Financial Services company listed on NASDAQ. The stock is up 27% over the past year. Over the trailing 3 months, insiders filed 9 open-market buys and 0 sales (SEC Form 4).
NewtekOne, Inc. (NEWT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NEWT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.43 | $0.43 | +0.0% | $71M | -6.3% |
| Jan 29, 2026 | $0.65 | $0.65 | +0.0% | $75M | -0.4% |
| Oct 29, 2025 | $0.63 | $0.67 | +6.3% | $95M | +18.8% |
| Feb 26, 2025 | $0.66 | $0.69 | +4.5% | $93M | +33.6% |
| Mar 5, 2024 | $0.58 | $0.53 | -8.6% | $67M | +5.5% |
| Aug 2, 2023 | $0.28 | $0.26 | -7.1% | $62M | +31.9% |
| Feb 27, 2023 | $0.60 | $0.06 | -90.0% | $33M | +31.4% |
| Aug 3, 2022 | $0.61 | $0.75 | +23.0% | $34M | +72.8% |
| May 4, 2022 | $0.65 | $0.72 | +10.8% | $30M | +65.8% |
| Feb 23, 2022 | $0.61 | $0.66 | +8.2% | $42M | +221.4% |
| Aug 10, 2021 | $0.77 | $1.20 | +55.8% | $37M | +85.5% |
| Jun 7, 2021 | — | $0.73 | — | $32M | — |
NEWT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 25, 2026 | Cestare Thomas Daviddirector | Grant | 1,825 | $13.70 |
| Jun 18, 2026 | Brunet Craig Jeffrydirector | Grant | 1,825 | $13.70 |
| Jun 18, 2026 | SALUTE RICHARD Jdirector | Grant | 1,825 | $13.70 |
| Jun 18, 2026 | Zink Gregory Ldirector | Grant | 1,825 | $13.70 |
| Jun 18, 2026 | PEREZ-HICKMAN FERNANDOdirector | Grant | 1,825 | $13.70 |
| Jun 16, 2026 | SLOANE BARRYdirector, officer: President, Chairman & CEO | Buy | 5,000 | $14.20 |
| Jun 15, 2026 | DeMaria Frank Mofficer: Cheif Financial Officer | Buy | 500 | $13.91 |
| Jun 15, 2026 | SLOANE BARRYdirector, officer: President, Chairman & CEO | Buy | 5,000 | $14.20 |
| Jun 15, 2026 | SLOANE BARRYdirector, officer: President, Chairman & CEO | Buy | 1,000 | $14.27 |
| Jun 4, 2026 | Brunet Craig Jeffrydirector | Buy | 1,000 | $12.70 |
| May 26, 2026 | Downs Peter Mathisondirector, officer: President, Newtek Bank | Buy | 737 | $13.56 |
| May 18, 2026 | Brunet Craig Jeffrydirector | Buy | 330 | $12.72 |
| May 11, 2026 | Zink Gregory Ldirector | Buy | 1,000 | $13.87 |
| May 8, 2026 | SALUTE RICHARD Jdirector | Buy | 1,000 | $13.47 |
| Jan 16, 2026 | SLOANE BARRYdirector, officer: President, Chairman & CEO | Grant | 3,595 | $13.91 |
Source: NEWT SEC Form 4 filings, latest Jun 25, 2026. For informational purposes only — not investment advice.
See the full NEWT insider & 13F page →NewtekOne, Inc. company profile
Overview
NewtekOne, Inc. (NASDAQ:NEWT) is a financial services company that began as Newtek Business Services Corp. in 1998 and underwent a significant transformation in 2014 when it converted to a Business Development Company (BDC). The company made another pivotal change in 2023 when it transitioned from a BDC to a financial holding company following its acquisition of National Bank of New York City. Headquartered in Boca Raton, Florida, with additional offices across multiple states, NewtekOne has evolved into a technology-enabled financial services provider focused on serving small and medium-sized businesses across the United States.
Business
NewtekOne operates as a comprehensive financial services provider specializing in small and medium-sized business (SMB) banking and lending. The company operates in the financial services sector, specifically focusing on business development and commercial banking services tailored for independent business owners. The company's core business revolves around several key segments. SBA lending represents the largest revenue driver, where NewtekOne originates Small Business Administration guaranteed loans, particularly 7(a) loans ranging from $50,000 to $10 million for purposes including commercial real estate acquisition, equipment purchases, working capital, and business acquisitions. The SBA program provides government guarantees on these loans, reducing credit risk for lenders. The company also participates in the 504 loan program, which focuses on commercial real estate and equipment financing with longer terms. Commercial banking services form another major segment following the 2023 bank acquisition. NewtekOne Bank offers business deposit accounts, commercial and industrial loans, and commercial real estate financing. The bank emphasizes zero-fee business accounts and digital banking capabilities through its proprietary technology platform. Alternative Loan Program (ALP) provides non-SBA guaranteed loans to businesses that may not qualify for traditional SBA financing but still meet the company's credit standards. These loans are typically securitized and sold to investors. Electronic payment processing services include credit and debit card processing, ACH processing, and e-commerce solutions for merchants. This segment generates recurring revenue through transaction fees and equipment leasing. Technology and managed services encompass web hosting, cloud services, website development, and IT support services for small businesses. The company also offers insurance brokerage services, payroll processing, and accounts receivable financing. Based on recent financial data, SBA lending and banking operations represent approximately 70-80% of total revenues, with payment processing contributing around 15-20%, and other business services making up the remainder.
Revenue model
NewtekOne generates revenue through multiple complementary business models that create a comprehensive ecosystem for small business financial services. The primary revenue driver is loan origination and servicing, where the company earns fees from originating SBA loans and then typically sells these loans in the secondary market while retaining servicing rights. For SBA 7(a) loans, the company benefits from gain-on-sale margins due to the government guarantee, which makes these loans attractive to investors. The company also earns ongoing servicing fees from the loans it originates. Net interest income represents a significant revenue stream through the banking operations. NewtekOne Bank earns the spread between interest paid on deposits and interest earned on loans. The bank maintains an attractive net interest margin of approximately 5.29% by focusing on low-cost business deposits while originating higher-yielding commercial loans. Fee-based services generate recurring revenue through payment processing (transaction fees and equipment leasing), technology services (monthly hosting and software fees), insurance commissions, and payroll processing fees. These services create sticky customer relationships and provide predictable cash flows. The company's margins are influenced by several key factors. Interest rate environments significantly impact both loan demand and the bank's net interest margin. Rising rates can reduce loan demand but improve spreads, while falling rates may increase origination volume but compress margins. Credit quality directly affects provisions for loan losses, with economic downturns potentially increasing charge-offs and reducing profitability. SBA program changes and government guarantee levels can impact gain-on-sale margins for SBA loans. Competition from both traditional banks and fintech lenders can pressure pricing and market share. Regulatory changes affecting small business lending or banking operations can impact costs and operational flexibility. Technology investments in the company's digital platform can improve efficiency and customer acquisition costs over time, while deposit costs in competitive markets can pressure the bank's funding costs and net interest margins.
Competitive moat
NewtekOne's competitive moat is moderate but multifaceted, built primarily around its integrated technology platform and specialized focus on small business services. The company's primary defensive characteristic is its comprehensive business solutions ecosystem, which creates switching costs for customers who utilize multiple services including banking, payments, lending, and technology services. This integrated approach makes it more difficult for customers to leave, as they would need to replace multiple vendors rather than just one. The company's SBA lending expertise provides some competitive advantage, as SBA lending requires specialized knowledge of government programs, underwriting standards, and regulatory compliance. NewtekOne's long history in SBA lending (since 1998) and its technology-enabled origination process give it operational advantages over newer entrants. However, this moat is not particularly strong as many banks and non-bank lenders also participate in SBA programs. Technology and digital capabilities represent both a current advantage and a potential vulnerability. NewtekOne's proprietary "Newtek Advantage" platform and digital banking capabilities help differentiate it from traditional community banks, but these advantages can be replicated by well-funded competitors or fintech companies with superior technology resources. The company's moat faces significant competitive threats. Large banks with greater resources can offer more competitive pricing and broader service offerings. Fintech lenders may provide faster, more streamlined lending processes. Technology companies entering financial services could potentially unbundle NewtekOne's integrated services. The company's relatively small size (under $300 million market cap) limits its ability to invest heavily in technology or compete on price with larger institutions. Additionally, the commoditized nature of many financial services means that customer loyalty is often driven primarily by pricing and convenience rather than unique value propositions.
Risks & safety
NewtekOne presents a moderate to high risk profile with limited margin of safety, typical of a leveraged financial services company in a challenging credit environment. • Liquidity and Solvency: The company maintains $353 million in cash and short-term investments against $1.8 billion in total liabilities. However, negative free cash flow of -$153 million for 2024 indicates significant cash consumption. Debt-to-equity ratio of 2.41x reflects the leveraged nature of banking operations, which is normal for the industry but creates solvency risk if credit losses spike. • Valuation Metrics: Trading at 6.3x trailing P/E and 1.08x price-to-book, the stock appears reasonably valued relative to earnings but offers limited downside protection. EV/EBITDA of 9.6x suggests moderate valuation levels. • Credit Risk: Management expects charge-offs around 2% of the loan portfolio in 2025, with loan loss reserves at 5% coverage. Given the $1.9 billion total loan portfolio, significant credit deterioration could quickly impact capital levels. • Regulatory Risk: As a small bank holding company, subject to banking regulations and potential capital requirements that could constrain growth or require additional capital raising. • Interest Rate Sensitivity: Banking operations exposed to interest rate risk, though management indicates relative agnosticism to rate changes.
Recent development
Over the past few years, NewtekOne has undergone a fundamental business transformation that represents one of the most significant strategic pivots in the company's history. The most important development was the transition from a Business Development Company (BDC) to a financial holding company in 2023, culminating with the acquisition of National Bank of New York City in January 2023. This transformation shifted the company from primarily being an investment vehicle to becoming a full-service commercial bank. The company has heavily invested in technology infrastructure and digital capabilities, launching the "Newtek Advantage" platform that serves as a comprehensive business portal for customers. This platform integrates banking, lending, payments, and other business services into a single digital interface. The company hired Ron Lay as Chief Technology Officer to spearhead these digital initiatives and opened a new office in Wilmington, North Carolina, to support expanded commercial banking operations. Product diversification has been another key strategic focus. While maintaining its core SBA 7(a) lending business, NewtekOne has expanded into conforming commercial and industrial loans, commercial real estate lending, and the Alternative Loan Program (ALP) for businesses that don't qualify for SBA financing. The company successfully completed multiple ALP loan securitizations, demonstrating its ability to access capital markets for funding. The banking strategy emphasizes low-cost deposit gathering through zero-fee business accounts and competitive digital banking services. Management has focused on building sticky customer relationships by cross-selling multiple services to the same business customers, creating an integrated financial services ecosystem. Recent initiatives include expanding commercial deposit capabilities and targeting the estimated 30 million independent business owners in the United States as potential customers.
NEWT company profile · for informational purposes only — not investment advice.
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