Weekly Research Analysts’ Ratings Updates for NEWTEK Business Services (NEWT)

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A number of firms have modified their ratings and price targets on shares of NEWTEK Business Services (NASDAQ: NEWT) recently:

  • 5/17/2019 – NEWTEK Business Services was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 5/15/2019 – NEWTEK Business Services was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating.
  • 5/9/2019 – NEWTEK Business Services was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 5/1/2019 – NEWTEK Business Services was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 5/1/2019 – NEWTEK Business Services was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/25/2019 – NEWTEK Business Services was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/9/2019 – NEWTEK Business Services was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/4/2019 – NEWTEK Business Services was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock. 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. “
  • 4/3/2019 – NEWTEK Business Services was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/26/2019 – NEWTEK Business Services was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

NEWT stock traded up $0.21 during trading on Monday, reaching $22.62. 42,543 shares of the stock were exchanged, compared to its average volume of 113,761. The company has a market capitalization of $427.30 million, a PE ratio of 11.66 and a beta of 1.39. 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 0.34, a current ratio of 0.35 and a quick ratio of 0.35.

NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $13.76 million for the quarter. NEWTEK Business Services had a net margin of 70.19% and a return on equity of 8.99%. Sell-side analysts forecast that NEWTEK Business Services Corp will post 2.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 8.13%. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, June 13th. NEWTEK Business Services’s payout ratio is 82.47%.

In related news, CEO Barry Sloane purchased 4,000 shares of NEWTEK Business Services stock in a transaction dated Wednesday, March 20th. The shares were acquired at an average cost of $19.70 per share, with a total value of $78,800.00. Following the purchase, the chief executive officer now owns 1,023,708 shares of the company’s stock, valued at $20,167,047.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 4,782 shares of company stock worth $94,898 over the last three months. Insiders own 6.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of NEWTEK Business Services by 22.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,070 shares of the business services provider’s stock valued at $531,000 after purchasing an additional 5,024 shares in the last quarter. Morgan Stanley grew its holdings in shares of NEWTEK Business Services by 36.6% in the first quarter. Morgan Stanley now owns 155,936 shares of the business services provider’s stock valued at $3,063,000 after purchasing an additional 41,769 shares in the last quarter. Advantage Investment Management LLC acquired a new position in shares of NEWTEK Business Services in the first quarter valued at approximately $262,000. Marshall Wace North America L.P. acquired a new position in shares of NEWTEK Business Services in the first quarter valued at approximately $67,000. Finally, Commonwealth Equity Services LLC grew its holdings in shares of NEWTEK Business Services by 7.6% in the first quarter. Commonwealth Equity Services LLC now owns 55,893 shares of the business services provider’s stock valued at $1,097,000 after purchasing an additional 3,966 shares in the last quarter. 19.35% of the stock is currently 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.

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