Shares of Newtek Business Services Corp. (NASDAQ:NEWT) have received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $17.00.

NEWT has been the topic of a number of research analyst reports. Zacks Investment Research raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, August 8th. ValuEngine raised Newtek Business Services Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods reaffirmed a “mkt perform” rating and set a $18.00 price target on shares of Newtek Business Services Corp. in a report on Tuesday, May 30th. Finally, Compass Point downgraded Newtek Business Services Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, May 24th.

Shares of Newtek Business Services Corp. (NASDAQ NEWT) traded up 0.46% during midday trading on Friday, hitting $17.58. The stock had a trading volume of 146,099 shares. The stock’s 50-day moving average is $17.07 and its 200-day moving average is $16.80. Newtek Business Services Corp. has a 12 month low of $13.56 and a 12 month high of $18.00. The stock has a market cap of $306.58 million, a PE ratio of 9.48 and a beta of 1.37.

Newtek Business Services Corp. (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $9.90 million for the quarter, compared to the consensus estimate of $9.19 million. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%. Equities analysts anticipate that Newtek Business Services Corp. will post $1.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 22nd will be issued a $0.44 dividend. This is an increase from Newtek Business Services Corp.’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $1.76 dividend on an annualized basis and a yield of 10.01%. Newtek Business Services Corp.’s dividend payout ratio is currently 85.11%.

A number of hedge funds have recently bought and sold shares of the business. American Asset Management Inc. lifted its holdings in Newtek Business Services Corp. by 0.4% in the second quarter. American Asset Management Inc. now owns 14,345 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 51 shares during the period. Chubb Ltd lifted its holdings in Newtek Business Services Corp. by 1.9% in the second quarter. Chubb Ltd now owns 15,772 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 291 shares during the period. Stifel Financial Corp lifted its holdings in Newtek Business Services Corp. by 2.8% in the second quarter. Stifel Financial Corp now owns 30,436 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 823 shares during the period. HighTower Advisors LLC lifted its holdings in Newtek Business Services Corp. by 5.8% in the first quarter. HighTower Advisors LLC now owns 17,902 shares of the business services provider’s stock valued at $300,000 after acquiring an additional 985 shares during the period. Finally, Bard Associates Inc. lifted its holdings in Newtek Business Services Corp. by 0.6% in the second quarter. Bard Associates Inc. now owns 174,956 shares of the business services provider’s stock valued at $2,850,000 after acquiring an additional 991 shares during the period. 22.79% of the stock is currently owned by institutional investors.

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Newtek Business Services Corp. Company Profile

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

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