BidaskClub upgraded shares of NEWTEK Business Services (NASDAQ:NEWT) from a hold rating to a buy rating in a research report sent to investors on Wednesday, March 21st.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of NEWTEK Business Services from a buy rating to a hold rating in a research note on Friday, December 8th. Keefe, Bruyette & Woods set a $19.00 price objective on shares of NEWTEK Business Services and gave the stock a hold rating in a research note on Tuesday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. NEWTEK Business Services has an average rating of Hold and an average target price of $19.00.
NEWTEK Business Services stock traded down $0.01 during mid-day trading on Wednesday, reaching $17.92. The company had a trading volume of 54,523 shares, compared to its average volume of 123,990. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.19. NEWTEK Business Services has a 1 year low of $15.68 and a 1 year high of $19.40. The stock has a market cap of $332.55, a PE ratio of 10.16, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.
NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Monday, March 5th. The business services provider reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.04). NEWTEK Business Services had a return on equity of 8.40% and a net margin of 107.74%. The business had revenue of $10.42 million for the quarter, compared to analysts’ expectations of $10.08 million. sell-side analysts forecast that NEWTEK Business Services will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 19th. This represents a $1.60 annualized dividend and a yield of 8.93%. NEWTEK Business Services’s payout ratio is currently 90.40%.
A number of hedge funds have recently added to or reduced their stakes in NEWT. Macquarie Group Ltd. purchased a new stake in NEWTEK Business Services in the 4th quarter worth approximately $120,000. Fusion Family Wealth LLC grew its stake in NEWTEK Business Services by 259.4% in the 4th quarter. Fusion Family Wealth LLC now owns 8,625 shares of the business services provider’s stock worth $159,000 after acquiring an additional 6,225 shares during the period. Quadrature Capital Ltd purchased a new stake in NEWTEK Business Services in the 4th quarter worth approximately $246,000. Suntrust Banks Inc. purchased a new stake in NEWTEK Business Services in the 4th quarter worth approximately $258,000. Finally, Commonwealth Equity Services Inc grew its stake in NEWTEK Business Services by 61.2% in the 3rd quarter. Commonwealth Equity Services Inc now owns 25,670 shares of the business services provider’s stock worth $457,000 after acquiring an additional 9,744 shares during the period. 22.00% of the stock is owned by hedge funds and other institutional investors.
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NEWTEK Business Services Company Profile
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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