Shares of Newtek Business Services Inc. (NASDAQ:NEWT) were down 0.6% during trading on Friday . The company traded as low as $12.48 and last traded at $12.60, with a volume of 80,196 shares traded. The stock had previously closed at $12.67.

A number of analysts have recently commented on NEWT shares. DA Davidson started coverage on Newtek Business Services in a research report on Thursday, June 16th. They issued a “buy” rating and a $16.00 price target on the stock. TheStreet raised Newtek Business Services from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Finally, Zacks Investment Research raised Newtek Business Services from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, March 18th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.25.

The company has a market capitalization of $180.87 million and a price-to-earnings ratio of 4.72. The company’s 50-day moving average is $12.71 and its 200-day moving average is $12.19.

Newtek Business Services (NASDAQ:NEWT) last issued its earnings results on Wednesday, May 4th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. On average, analysts forecast that Newtek Business Services Inc. will post $1.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Monday, June 20th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $1.40 annualized dividend and a dividend yield of 11.21%.

Several hedge funds and institutional investors have modified their holdings of NEWT. Royce & Associates LLC boosted its position in shares of Newtek Business Services by 190.3% in the fourth quarter. Royce & Associates LLC now owns 369,900 shares of the company’s stock valued at $5,297,000 after buying an additional 242,500 shares during the period. Morgan Stanley boosted its position in shares of Newtek Business Services by 36.7% in the fourth quarter. Morgan Stanley now owns 105,951 shares of the company’s stock valued at $1,517,000 after buying an additional 28,432 shares during the period. GSA Capital Partners LLP boosted its position in shares of Newtek Business Services by 49.0% in the fourth quarter. GSA Capital Partners LLP now owns 78,096 shares of the company’s stock valued at $1,118,000 after buying an additional 25,696 shares during the period. Finally, LSV Asset Management boosted its position in shares of Newtek Business Services by 21.4% in the fourth quarter. LSV Asset Management now owns 81,126 shares of the company’s stock valued at $1,161,000 after buying an additional 14,280 shares during the period.

Newtek Business Services Corp. is a non-diversified closed-end management investment company. The Company is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. Its products and services consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions.

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