NEWTEK Business Services Corp (NASDAQ:NEWT) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.17.

A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. TheStreet upgraded shares of NEWTEK Business Services from a “c+” rating to a “b” rating in a research report on Wednesday, May 15th. Zacks Investment Research raised shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Saturday, August 10th. Finally, ValuEngine downgraded shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th.

NEWT traded up $0.20 on Friday, hitting $22.94. 122,652 shares of the stock were exchanged, compared to its average volume of 116,562. NEWTEK Business Services has a 12 month low of $15.59 and a 12 month high of $23.83. The business has a 50-day moving average of $21.91 and a two-hundred day moving average of $21.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $438.96 million, a price-to-earnings ratio of 11.82 and a beta of 1.23.

NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. NEWTEK Business Services had a net margin of 68.61% and a return on equity of 9.87%. The firm had revenue of $14.15 million for the quarter, compared to the consensus estimate of $14.33 million. Equities research analysts expect that NEWTEK Business Services will post 2.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a dividend of $0.58 per share. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.46. This represents a $2.32 annualized dividend and a dividend yield of 10.11%. The ex-dividend date is Thursday, September 19th. NEWTEK Business Services’s dividend payout ratio is currently 94.85%.

In other NEWTEK Business Services news, CEO Barry Sloane bought 2,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $20.94 per share, with a total value of $41,880.00. Following the completion of the purchase, the chief executive officer now owns 1,029,906 shares in the company, valued at $21,566,231.64. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders acquired 2,698 shares of company stock worth $56,379. Company insiders own 6.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of NEWT. Marshall Wace North America L.P. acquired a new stake in shares of NEWTEK Business Services in the 1st quarter valued at approximately $67,000. C M Bidwell & Associates Ltd. acquired a new stake in NEWTEK Business Services in the second quarter valued at approximately $76,000. Advisor Group Inc. boosted its position in NEWTEK Business Services by 64.3% in the second quarter. Advisor Group Inc. now owns 4,494 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,759 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in NEWTEK Business Services in the second quarter valued at approximately $206,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of NEWTEK Business Services during the second quarter worth $284,000. 18.12% of the stock is owned by hedge funds and other institutional investors.

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.

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