NEWTEK Business Services Corp (NASDAQ:NEWT) Shares Acquired by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. lifted its position in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) by 38.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,971 shares of the business services provider’s stock after buying an additional 9,220 shares during the quarter. First Allied Advisory Services Inc. owned approximately 0.17% of NEWTEK Business Services worth $740,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NEWT. American Asset Management Inc. increased its position in NEWTEK Business Services by 3.3% during the 3rd quarter. American Asset Management Inc. now owns 33,903 shares of the business services provider’s stock worth $766,000 after purchasing an additional 1,075 shares in the last quarter. Advisor Group Inc. increased its position in NEWTEK Business Services by 64.3% during the 2nd quarter. Advisor Group Inc. now owns 4,494 shares of the business services provider’s stock worth $104,000 after purchasing an additional 1,759 shares in the last quarter. AE Wealth Management LLC increased its position in NEWTEK Business Services by 12.8% during the 3rd quarter. AE Wealth Management LLC now owns 23,069 shares of the business services provider’s stock worth $521,000 after purchasing an additional 2,625 shares in the last quarter. Commonwealth Equity Services LLC increased its position in NEWTEK Business Services by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 58,629 shares of the business services provider’s stock worth $1,348,000 after purchasing an additional 2,736 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in NEWTEK Business Services during the 2nd quarter worth about $76,000. 18.31% of the stock is owned by institutional investors and hedge funds.

NEWT opened at $22.91 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $454.97 million, a price-to-earnings ratio of 10.39 and a beta of 1.21. The business has a 50-day moving average of $22.14 and a two-hundred day moving average of $22.22. NEWTEK Business Services Corp has a 12 month low of $15.59 and a 12 month high of $23.99.

NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.56 by $0.07. The company had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $13.68 million. NEWTEK Business Services had a return on equity of 14.42% and a net margin of 61.37%. Equities research analysts anticipate that NEWTEK Business Services Corp will post 2.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.71 dividend. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, December 13th. This represents a $2.84 annualized dividend and a yield of 12.40%. NEWTEK Business Services’s payout ratio is 119.59%.

A number of research firms recently commented on NEWT. Raymond James cut NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. BidaskClub cut NEWTEK Business Services from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. ValuEngine upgraded NEWTEK Business Services from a “strong sell” rating to a “sell” rating in a report on Thursday, October 10th. Finally, Zacks Investment Research cut NEWTEK Business Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.17.

NEWTEK Business Services Profile

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.

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Institutional Ownership by Quarter for NEWTEK Business Services (NASDAQ:NEWT)

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