NEWTEK Business Services (NASDAQ:NEWT) Upgraded at BidaskClub

BidaskClub upgraded shares of NEWTEK Business Services (NASDAQ:NEWT) from a sell rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

NEWT has been the topic of several other research reports. Zacks Investment Research lowered shares of NEWTEK Business Services from a buy rating to a hold rating in a research report on Wednesday, June 3rd. LADENBURG THALM/SH SH boosted their price target on shares of NEWTEK Business Services from $13.00 to $16.00 in a research report on Friday, May 15th. Finally, ValuEngine raised shares of NEWTEK Business Services from a strong sell rating to a sell rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. NEWTEK Business Services currently has a consensus rating of Hold and a consensus target price of $16.00.

NEWT stock traded up $0.16 during mid-day trading on Thursday, hitting $18.73. The company had a trading volume of 260,701 shares, compared to its average volume of 167,427. The firm has a market cap of $391.59 million, a PE ratio of 14.52 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.19 and a current ratio of 1.19. NEWTEK Business Services has a 12 month low of $7.59 and a 12 month high of $23.99. The stock’s fifty day moving average price is $17.79 and its two-hundred day moving average price is $17.30.

NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.22). The company had revenue of $15.80 million during the quarter, compared to the consensus estimate of $16.56 million. NEWTEK Business Services had a return on equity of 13.33% and a net margin of 40.43%. Equities analysts anticipate that NEWTEK Business Services will post 2.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $2.32 annualized dividend and a yield of 12.39%. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.56. NEWTEK Business Services’s payout ratio is currently 96.14%.

Large investors have recently modified their holdings of the stock. Cornell Pochily Investment Advisors Inc. purchased a new position in NEWTEK Business Services during the first quarter valued at approximately $316,000. Mckinley Capital Management LLC Delaware grew its stake in NEWTEK Business Services by 6.4% during the second quarter. Mckinley Capital Management LLC Delaware now owns 151,187 shares of the business services provider’s stock valued at $2,755,000 after acquiring an additional 9,154 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in NEWTEK Business Services during the first quarter valued at approximately $26,000. Van ECK Associates Corp grew its stake in NEWTEK Business Services by 7.9% during the first quarter. Van ECK Associates Corp now owns 239,039 shares of the business services provider’s stock valued at $3,158,000 after acquiring an additional 17,494 shares in the last quarter. Finally, Citigroup Inc. purchased a new position in NEWTEK Business Services during the first quarter valued at approximately $92,000. 16.59% of the stock is owned by institutional investors.

NEWTEK Business Services Company 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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