Several brokerages have updated their recommendations and price targets on shares of NEWTEK Business Services (NASDAQ: NEWT) in the last few weeks:

  • 11/20/2018 – NEWTEK Business Services was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Newtek Capital, Inc. resulted from the combination of the businesses previously owned by BJB Holdings, Inc. and REXX Environmental Corporation and is operating as a holding company for a network of partner companies in a collaborative and coordinated effort to develop successful businesses in a number of existing as well as emerging, technological business lines. “
  • 11/17/2018 – NEWTEK Business Services was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 11/10/2018 – NEWTEK Business Services was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/8/2018 – NEWTEK Business Services was given a new $19.00 price target on by analysts at Compass Point. They now have a “hold” rating on the stock.
  • 11/1/2018 – NEWTEK Business Services was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/17/2018 – NEWTEK Business Services was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Newtek Capital, Inc. resulted from the combination of the businesses previously owned by BJB Holdings, Inc. and REXX Environmental Corporation and is operating as a holding company for a network of partner companies in a collaborative and coordinated effort to develop successful businesses in a number of existing as well as emerging, technological business lines. “
  • 10/2/2018 – NEWTEK Business Services was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/2/2018 – NEWTEK Business Services was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/27/2018 – NEWTEK Business Services was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.

NEWT stock traded up $0.36 during mid-day trading on Wednesday, reaching $20.52. 2,819 shares of the company traded hands, compared to its average volume of 142,917. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $386.09 million, a PE ratio of 11.59, a PEG ratio of 3.57 and a beta of 1.34. NEWTEK Business Services Corp has a 52-week low of $16.07 and a 52-week high of $24.24.

NEWTEK Business Services (NASDAQ:NEWT) last posted its earnings results on Wednesday, November 7th. The business services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. The business had revenue of $12.39 million during the quarter, compared to analyst estimates of $11.85 million. NEWTEK Business Services had a return on equity of 8.51% and a net margin of 102.01%. On average, equities research analysts anticipate that NEWTEK Business Services Corp will post 1.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Tuesday, December 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 9.75%. The ex-dividend date is Monday, December 17th. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.48. NEWTEK Business Services’s payout ratio is presently 108.47%.

Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of NEWTEK Business Services by 17.9% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 59,261 shares of the business services provider’s stock valued at $1,179,000 after acquiring an additional 8,978 shares during the last quarter. Millennium Management LLC bought a new stake in shares of NEWTEK Business Services during the 1st quarter valued at about $217,000. Private Advisor Group LLC boosted its position in shares of NEWTEK Business Services by 8.5% during the 2nd quarter. Private Advisor Group LLC now owns 31,300 shares of the business services provider’s stock valued at $639,000 after acquiring an additional 2,450 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of NEWTEK Business Services by 3.9% during the 2nd quarter. Van ECK Associates Corp now owns 133,242 shares of the business services provider’s stock valued at $2,653,000 after acquiring an additional 5,039 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of NEWTEK Business Services by 13.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 440,964 shares of the business services provider’s stock valued at $8,780,000 after acquiring an additional 51,624 shares during the last quarter. 21.18% of the stock is owned by institutional investors and hedge funds.

Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.

Further Reading: Why is the ex-dividend date different from the record date?

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