Capital Financial Planning LLC bought a new stake in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,385 shares of the business services provider’s stock, valued at approximately $42,000.
Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in NEWTEK Business Services by 8.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 10,712 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 797 shares during the period. Fusion Family Wealth LLC increased its stake in shares of NEWTEK Business Services by 11.9% in the fourth quarter. Fusion Family Wealth LLC now owns 10,841 shares of the business services provider’s stock worth $189,000 after acquiring an additional 1,150 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of NEWTEK Business Services by 197.6% in the third quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after acquiring an additional 7,638 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of NEWTEK Business Services in the fourth quarter worth $320,000. Finally, Bank of America Corp DE increased its stake in shares of NEWTEK Business Services by 111.2% in the fourth quarter. Bank of America Corp DE now owns 18,312 shares of the business services provider’s stock worth $320,000 after acquiring an additional 9,640 shares during the last quarter. 20.24% of the stock is currently owned by institutional investors.
NEWT has been the topic of a number of research reports. TheStreet downgraded shares of NEWTEK Business Services from a “b” rating to a “c+” rating in a research note on Monday, March 11th. ValuEngine downgraded shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Zacks Investment Research raised shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, January 9th. BidaskClub raised shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Finally, Raymond James raised shares of NEWTEK Business Services from a “market perform” rating to an “outperform” rating and set a $15.68 price target on the stock in a research note on Monday, December 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. NEWTEK Business Services currently has an average rating of “Hold” and a consensus price target of $18.67.
Shares of NASDAQ:NEWT opened at $18.50 on Friday. The firm has a market capitalization of $352.59 million, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 2.98 and a beta of 1.40. NEWTEK Business Services Corp has a 1 year low of $15.59 and a 1 year high of $24.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.35 and a quick ratio of 0.38.
NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. The firm had revenue of $14.66 million during the quarter, compared to analysts’ expectations of $12.85 million. NEWTEK Business Services had a net margin of 72.06% and a return on equity of 9.02%. As a group, equities analysts anticipate that NEWTEK Business Services Corp will post 2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date is Thursday, March 14th. NEWTEK Business Services’s dividend payout ratio is presently 82.47%.
COPYRIGHT VIOLATION NOTICE: “Capital Financial Planning LLC Buys New Position in NEWTEK Business Services Corp (NEWT)” was first reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/4244974/capital-financial-planning-llc-buys-new-position-in-newtek-business-services-corp-newt.html.
About NEWTEK Business Services
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.
Read More: NASDAQ Stock Market Explained
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 Corp (NASDAQ:NEWT).
Receive News & Ratings for NEWTEK Business Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NEWTEK Business Services and related companies with MarketBeat.com's FREE daily email newsletter.