U.S. stocks edge higher; solid earnings season continues
NewtekOne, Inc. (NEWT), a national commercial banking institution currently valued at $275 million, announced the results of its Annual Meeting of Shareholders held on Monday, June 13, 2025. According to InvestingPro analysis, the company trades at an attractive P/E ratio of 5.35 and appears undervalued based on comprehensive Fair Value calculations. The meeting, which was detailed in the company’s definitive proxy statement filed on April 24, 2025, saw shareholders vote on several key proposals.
At the meeting, shareholders elected three directors to the company’s Board of Directors to serve until the 2028 annual meeting. Gregory Zink, Halli Razon-Feingold, and Fernando Perez-Hickman were elected with 10,995,823, 12,396,589, and 13,484,834 votes for, respectively. The votes withheld for each candidate were 4,018,676 for Zink, 2,617,910 for Razon-Feingold, and 1,529,665 for Perez-Hickman. Notably, the company has maintained consistent dividend payments for 11 consecutive years, currently offering shareholders a substantial 7.3% dividend yield.
Additionally, shareholders ratified the appointment of RSM US LLP as NewtekOne’s independent registered accounting firm for the fiscal year ending December 31, 2025. The proposal was approved with 20,193,631 votes for, 1,215,133 against, and 102,693 abstentions.
The company also sought an advisory vote on the compensation of NewtekOne’s named executive officers. This proposal received 12,795,595 votes for, 1,948,335 against, and 270,569 abstentions.
A total of 21,511,457 shares were present or represented by proxy at the meeting, constituting a quorum for the transaction of business. The company, headquartered in Boca Raton, Florida, is incorporated in Maryland and trades on the Nasdaq Global Market under the ticker symbols NEWT, NEWTZ, NEWTI, NEWTG, and NEWTH for its various classes of stock and notes. InvestingPro research reveals the company generated $352.58 million in revenue over the last twelve months, with 8 additional key financial metrics and insights available to subscribers.
The SEC filing, dated today, confirms the official results of the Annual Meeting and is signed by Barry Sloane, Chief Executive Officer, President, and Chairman of the Board of NewtekOne, Inc.
In other recent news, Newtek Business (NASDAQ:NEWT) Services Corp reported its Q1 2025 earnings with revenue significantly surpassing expectations, reaching $66.33 million against a forecast of $63.15 million. However, the company’s earnings per share (EPS) slightly missed the mark, coming in at $0.35 compared to the projected $0.36. Despite this minor shortfall in EPS, the company maintained its full-year EPS guidance of $2.10-$2.50. Newtek’s innovative digital banking initiatives contributed to its strong revenue performance, with 15,000 accounts successfully opened remotely. The company also projected continued growth in its Alternative Loan Program and SBA (LON:SBA) lending. In analyst notes, Newtek’s strategic direction was positively received, reflecting confidence in its future growth potential. The company emphasized its focus on technology and client acquisition, which seems to be yielding positive results.
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