Shares of NEWTEK Business Services Corp (NASDAQ:NEWT) fell 6.8% during trading on Thursday . The stock traded as low as $17.61 and last traded at $17.98. 1,019,320 shares traded hands during trading, an increase of 743% from the average session volume of 120,921 shares. The stock had previously closed at $19.30.

Several research firms recently commented on NEWT. Zacks Investment Research upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, June 28th. BidaskClub lowered shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 16th. Compass Point set a $19.00 price target on shares of NEWTEK Business Services and gave the company a “hold” rating in a research report on Thursday, August 2nd. Finally, Raymond James upgraded shares of NEWTEK Business Services from an “underperform” rating to a “market perform” rating in a research report on Thursday, September 27th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.67.

The stock has a market cap of $393.51 million, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 3.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.31 and a current ratio of 0.31.

NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. NEWTEK Business Services had a net margin of 105.34% and a return on equity of 8.86%. The company had revenue of $11.40 million for the quarter, compared to analyst estimates of $11.47 million. On average, research analysts forecast that NEWTEK Business Services Corp will post 1.9 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were given a $0.48 dividend. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, September 14th. This represents a $1.92 annualized dividend and a dividend yield of 10.15%. NEWTEK Business Services’s dividend payout ratio (DPR) is 108.47%.

Several hedge funds and other institutional investors have recently made changes to their positions in NEWT. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of NEWTEK Business Services in the first quarter valued at about $182,000. Stifel Financial Corp grew its position in shares of NEWTEK Business Services by 18.1% in the first quarter. Stifel Financial Corp now owns 54,435 shares of the business services provider’s stock valued at $985,000 after purchasing an additional 8,350 shares during the period. Commonwealth Equity Services LLC grew its position in shares of NEWTEK Business Services by 10.9% in the first quarter. Commonwealth Equity Services LLC now owns 35,627 shares of the business services provider’s stock valued at $643,000 after purchasing an additional 3,510 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of NEWTEK Business Services in the first quarter valued at about $568,000. Finally, LPL Financial LLC grew its position in shares of NEWTEK Business Services by 69.0% in the first quarter. LPL Financial LLC now owns 19,157 shares of the business services provider’s stock valued at $346,000 after purchasing an additional 7,820 shares during the period. Institutional investors and hedge funds own 21.16% of the company’s stock.

About NEWTEK Business Services (NASDAQ:NEWT)

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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