NEWTEK Business Services (NEWT) Upgraded by TheStreet to “B”

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TheStreet upgraded shares of NEWTEK Business Services (NASDAQ:NEWT) from a c+ rating to a b rating in a research report released on Wednesday morning, TheStreetRatingsTable reports.

NEWT has been the topic of a number of other reports. Compass Point assumed coverage on NEWTEK Business Services in a report on Friday, March 8th. They set a neutral rating and a $19.00 price objective on the stock. BidaskClub downgraded NEWTEK Business Services from a buy rating to a hold rating in a report on Thursday, April 25th. Zacks Investment Research raised NEWTEK Business Services from a sell rating to a hold rating in a report on Wednesday, January 16th. Finally, ValuEngine raised NEWTEK Business Services from a hold rating to a buy rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $19.17.

NASDAQ NEWT opened at $22.41 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $428.26 million, a price-to-earnings ratio of 11.55 and a beta of 1.39. NEWTEK Business Services has a 1-year low of $15.59 and a 1-year high of $24.24.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.46 dividend. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 8.21%. The ex-dividend date is Thursday, June 13th. NEWTEK Business Services’s payout ratio is presently 82.47%.

In other NEWTEK Business Services news, CEO Barry Sloane bought 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 acquisition, the chief executive officer now directly owns 1,023,708 shares of the company’s stock, valued at $20,167,047.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 4,782 shares of company stock worth $94,898 over the last three months. 6.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Financial Planning LLC acquired a new position in NEWTEK Business Services during the 4th quarter worth $42,000. Marshall Wace North America L.P. acquired a new position in NEWTEK Business Services during the 1st quarter worth $67,000. Advisory Services Network LLC lifted its holdings in NEWTEK Business Services by 250.3% during the 4th quarter. Advisory Services Network LLC now owns 10,530 shares of the business services provider’s stock worth $184,000 after buying an additional 7,524 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings 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 worth $187,000 after buying an additional 797 shares in the last quarter. Finally, Fusion Family Wealth LLC lifted its holdings in NEWTEK Business Services by 11.9% during the 4th quarter. Fusion Family Wealth LLC now owns 10,841 shares of the business services provider’s stock worth $189,000 after buying an additional 1,150 shares in the last quarter. 19.35% of the stock is currently owned by institutional investors and hedge funds.

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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