Stifel Financial Corp Acquires 8,350 Shares of NEWTEK Business Services Corp (NEWT)

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Stifel Financial Corp lifted its holdings in NEWTEK Business Services Corp (NASDAQ:NEWT) by 18.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 54,435 shares of the business services provider’s stock after acquiring an additional 8,350 shares during the quarter. Stifel Financial Corp owned 0.29% of NEWTEK Business Services worth $985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Investments LP raised its holdings in NEWTEK Business Services by 898.9% during the 4th quarter. Two Sigma Investments LP now owns 211,432 shares of the business services provider’s stock valued at $3,909,000 after buying an additional 190,266 shares during the last quarter. Quadrature Capital Ltd bought a new stake in NEWTEK Business Services during the 4th quarter valued at $246,000. Suntrust Banks Inc. bought a new stake in NEWTEK Business Services during the 4th quarter valued at $258,000. Arrowstreet Capital Limited Partnership raised its holdings in NEWTEK Business Services by 117.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 130,748 shares of the business services provider’s stock valued at $2,418,000 after buying an additional 70,744 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in NEWTEK Business Services during the 1st quarter valued at $182,000. Hedge funds and other institutional investors own 21.63% of the company’s stock.

NASDAQ:NEWT opened at $19.91 on Friday. NEWTEK Business Services Corp has a 52 week low of $15.68 and a 52 week high of $20.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $370.35 million, a P/E ratio of 15.38, a PEG ratio of 3.54 and a beta of 1.11.

NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.06. The business had revenue of $11.07 million for the quarter, compared to the consensus estimate of $10.72 million. NEWTEK Business Services had a net margin of 107.67% and a return on equity of 8.74%. equities research analysts expect that NEWTEK Business Services Corp will post 1.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were given a dividend of $0.42 per share. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date of this dividend was Thursday, June 14th. NEWTEK Business Services’s payout ratio is presently 94.92%.

A number of equities research analysts recently commented on the stock. Raymond James lowered shares of NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 5th. BidaskClub upgraded shares of NEWTEK Business Services from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 31st. Zacks Investment Research upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods set a $19.00 price target on shares of NEWTEK Business Services and gave the company a “hold” rating in a report on Tuesday, March 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.50.

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.

Institutional Ownership by Quarter for NEWTEK Business Services (NASDAQ:NEWT)

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