Shares of NEWTEK Business Services Corp (NASDAQ:NEWT) have earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.00.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, June 28th. BidaskClub lowered shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Compass Point set a $19.00 price target on shares of NEWTEK Business Services and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Finally, Singular Research reaffirmed a “not rated” rating on shares of NEWTEK Business Services in a research report on Monday, August 27th.
A number of large investors have recently added to or reduced their stakes in NEWT. Millennium Management LLC bought a new position in NEWTEK Business Services during the first quarter worth about $217,000. LPL Financial LLC increased its holdings in NEWTEK Business Services by 69.0% in the 1st quarter. LPL Financial LLC now owns 19,157 shares of the business services provider’s stock valued at $346,000 after buying an additional 7,820 shares during the period. Captrust Financial Advisors bought a new position in NEWTEK Business Services in the 2nd quarter valued at about $389,000. GSA Capital Partners LLP bought a new position in NEWTEK Business Services in the 2nd quarter valued at about $430,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in NEWTEK Business Services in the 1st quarter valued at about $568,000. 21.16% of the stock is currently owned by institutional investors and hedge funds.
NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. NEWTEK Business Services had a net margin of 105.34% and a return on equity of 8.86%. The company had revenue of $11.40 million for the quarter, compared to analyst estimates of $11.47 million. Equities research analysts anticipate that NEWTEK Business Services will post 1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Monday, September 17th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.27%. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, September 14th. NEWTEK Business Services’s dividend payout ratio (DPR) is currently 108.47%.
About NEWTEK Business Services
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.
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