Newtek Business Services Inc. (NEWT) Stake Reduced by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd lowered its position in Newtek Business Services Inc. (NASDAQ:NEWT) by 38.6% during the second quarter, Holdings Channel reports. The firm owned 13,430 shares of the company’s stock after selling 8,429 shares during the period. Dynamic Technology Lab Private Ltd owned 0.09% of Newtek Business Services worth $171,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in 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 period. Bank of Montreal Can acquired a new position in Newtek Business Services during the second quarter valued at $376,000. PARK CIRCLE Co acquired a new position in Newtek Business Services during the second quarter valued at $112,000. Wellington Management Group LLP boosted its position in Newtek Business Services by 28.7% in the first quarter. Wellington Management Group LLP now owns 732,269 shares of the company’s stock valued at $9,153,000 after buying an additional 163,486 shares during the period. Finally, Chubb Ltd. acquired a new position in Newtek Business Services during the first quarter valued at $187,000. Hedge funds and other institutional investors own 21.64% of the company’s stock.
Newtek Business Services Inc. (NASDAQ:NEWT) opened at 14.30 on Friday. The firm’s 50 day moving average price is $13.82 and its 200 day moving average price is $13.02. The firm has a market cap of $207.22 million, a price-to-earnings ratio of 5.80 and a beta of 0.96. Newtek Business Services Inc. has a 52-week low of $9.37 and a 52-week high of $18.30.
Newtek Business Services (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.03. Equities research analysts anticipate that Newtek Business Services Inc. will post $1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were paid a $0.43 dividend. This is a boost from Newtek Business Services’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 16th. This represents a $1.72 annualized dividend and a dividend yield of 12.05%. Newtek Business Services’s dividend payout ratio is presently 85.15%.
NEWT has been the topic of a number of recent research reports. DA Davidson reissued a “buy” rating and issued a $16.00 target price on shares of Newtek Business Services in a research report on Thursday, September 29th. Zacks Investment Research lowered Newtek Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Raymond James Financial Inc. dropped their target price on Newtek Business Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Newtek Business Services 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.
Want to see what other hedge funds are holding NEWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newtek Business Services Inc. (NASDAQ:NEWT).
Receive News & Ratings for Newtek Business Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newtek Business Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.