NEWTEK Business Services Corp (NEWT) Plans $0.40 Quarterly Dividend

NEWTEK Business Services Corp (NASDAQ:NEWT) announced a quarterly dividend on Friday, January 19th, Wall Street Journal reports. Stockholders of record on Tuesday, March 20th will be given a dividend of 0.40 per share by the business services provider on Friday, March 30th. This represents a $1.60 annualized dividend and a dividend yield of 8.98%. The ex-dividend date of this dividend is Monday, March 19th.

Shares of NEWTEK Business Services (NASDAQ NEWT) opened at $17.82 on Friday. The firm has a market cap of $324.08, a PE ratio of 10.80, a PEG ratio of 3.15 and a beta of 1.42. NEWTEK Business Services has a 1 year low of $15.15 and a 1 year high of $19.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42.

NEWTEK Business Services (NASDAQ:NEWT) last released its earnings results on Wednesday, November 1st. The business services provider reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.55). NEWTEK Business Services had a return on equity of 7.97% and a net margin of 78.03%. equities research analysts forecast that NEWTEK Business Services will post 1.83 earnings per share for the current fiscal year.

In other NEWTEK Business Services news, Director Richard J. Salute acquired 1,468 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $17.07 per share, with a total value of $25,058.76. Following the transaction, the director now directly owns 7,734 shares in the company, valued at $132,019.38. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Barry Sloane acquired 3,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $16.60 per share, with a total value of $49,800.00. Following the transaction, the chief executive officer now owns 1,006,113 shares in the company, valued at $16,701,475.80. The disclosure for this purchase can be found here. Insiders bought a total of 8,068 shares of company stock valued at $137,966 in the last three months. Insiders own 6.70% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $18.00 target price on shares of NEWTEK Business Services in a research report on Friday, October 13th. BidaskClub downgraded shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 5th. Zacks Investment Research downgraded shares of NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 3rd. Finally, ValuEngine downgraded shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. NEWTEK Business Services presently has an average rating of “Hold” and a consensus price target of $18.50.

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About NEWTEK Business Services

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

Dividend History for NEWTEK Business Services (NASDAQ:NEWT)

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