Newtek Business Services Inc. (NEWT) Position Maintained by Private Advisor Group LLC
Private Advisor Group LLC held its stake in shares of Newtek Business Services Inc. (NASDAQ:NEWT) during the second quarter, Holdings Channel reports. The institutional investor owned 27,420 shares of the company’s stock at the end of the second quarter. Private Advisor Group LLC owned approximately 0.19% of Newtek Business Services worth $346,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Newtek Business Services during the second quarter valued at $376,000. Chubb Ltd. bought a new stake in shares of Newtek Business Services during the first quarter valued at $187,000. UBS Group AG increased its stake in shares of Newtek Business Services by 3.6% in the first quarter. UBS Group AG now owns 193,267 shares of the company’s stock valued at $2,416,000 after buying an additional 6,650 shares during the last quarter. Royce & Associates LP increased its stake in shares of Newtek Business Services by 2.9% in the first quarter. Royce & Associates LP now owns 380,682 shares of the company’s stock valued at $4,759,000 after buying an additional 10,782 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Newtek Business Services by 126.3% in the second quarter. JPMorgan Chase & Co. now owns 28,794 shares of the company’s stock valued at $366,000 after buying an additional 16,070 shares during the last quarter. 21.64% of the stock is owned by institutional investors.
Newtek Business Services Inc. (NASDAQ:NEWT) traded up 0.81% on Wednesday, hitting $13.71. The company had a trading volume of 18,546 shares. The firm’s 50 day moving average price is $13.63 and its 200 day moving average price is $12.89. The stock has a market cap of $198.67 million, a P/E ratio of 5.56 and a beta of 0.83. Newtek Business Services Inc. has a 12-month low of $9.37 and a 12-month high of $19.18.
Newtek Business Services (NASDAQ:NEWT) last posted its earnings results on Monday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Equities analysts predict that Newtek Business Services Inc. will post $1.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 12.65%. This is a boost from Newtek Business Services’s previous quarterly dividend of $0.35. Newtek Business Services’s payout ratio is 85.15%.
Several equities research analysts have recently weighed in 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 target price for the company. Zacks Investment Research downgraded Newtek Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Raymond James Financial Inc. decreased their target price on Newtek Business Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $15.25.
Newtek Business Services Company Profile
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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