Newtek Business Services Inc. (NEWT) Stock Price Down 0.6%
Newtek Business Services Inc. (NASDAQ:NEWT) fell 0.6% during mid-day trading on Friday . The company traded as low as $12.48 and last traded at $12.60, with a volume of 80,196 shares. The stock had previously closed at $12.67.
A number of brokerages have recently issued reports on NEWT. DA Davidson began coverage on Newtek Business Services in a research note on Thursday, June 16th. They set a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded Newtek Business Services from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, March 18th. Finally, TheStreet upgraded Newtek Business Services from a “hold” rating to a “buy” rating in a research note on Friday, April 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.25.
The firm has a 50-day moving average of $12.70 and a 200-day moving average of $12.18. The stock has a market cap of $180.87 million and a PE ratio of 4.72.
Newtek Business Services (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. On average, equities analysts forecast that Newtek Business Services Inc. will post $1.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 20th were paid a $0.35 dividend. The ex-dividend date was Thursday, June 16th. This represents a $1.40 dividend on an annualized basis and a yield of 11.21%.
A number of large investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake 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 worth $1,517,000 after buying an additional 28,432 shares during the period. GSA Capital Partners LLP boosted its stake 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 worth $1,118,000 after buying an additional 25,696 shares during the period. LSV Asset Management boosted its stake 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 worth $1,161,000 after buying an additional 14,280 shares during the period. Finally, Royce & Associates LLC boosted its stake 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 worth $5,297,000 after buying an additional 242,500 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.