NewStar Financial, Inc. (NEWS) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of NewStar Financial, Inc. (NASDAQ:NEWS) from a hold rating to a buy rating in a report published on Thursday morning.
Several other brokerages have also issued reports on NEWS. Zacks Investment Research lowered NewStar Financial from a buy rating to a hold rating in a research note on Tuesday, August 8th. ValuEngine lowered NewStar Financial from a buy rating to a hold rating in a research note on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $11.50.
NewStar Financial (NASDAQ NEWS) traded down 0.19% during trading on Thursday, reaching $10.55. 11,774 shares of the company’s stock were exchanged. NewStar Financial has a 52-week low of $8.03 and a 52-week high of $11.49. The stock’s 50 day moving average price is $10.83 and its 200 day moving average price is $10.30. The firm has a market cap of $438.95 million, a P/E ratio of 19.04 and a beta of 2.03.
NewStar Financial (NASDAQ:NEWS) last issued its earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The firm had revenue of $20.19 million during the quarter, compared to analysts’ expectations of $24.32 million. NewStar Financial had a return on equity of 3.76% and a net margin of 8.65%. Equities research analysts anticipate that NewStar Financial will post $0.43 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, August 25th. NewStar Financial’s dividend payout ratio is currently 14.55%.
Hedge funds have recently modified their holdings of the company. Corsair Capital LLC raised its stake in shares of NewStar Financial by 0.6% in the second quarter. Corsair Capital LLC now owns 4,263,075 shares of the credit services provider’s stock valued at $44,762,000 after buying an additional 27,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NewStar Financial by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,590,665 shares of the credit services provider’s stock valued at $27,202,000 after buying an additional 90,892 shares in the last quarter. Oaktop Capital Management II L.P. purchased a new stake in shares of NewStar Financial during the second quarter valued at about $23,701,000. Vanguard Group Inc. raised its stake in shares of NewStar Financial by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,724,687 shares of the credit services provider’s stock valued at $18,109,000 after buying an additional 20,852 shares in the last quarter. Finally, Jacobs Asset Management LLC raised its stake in shares of NewStar Financial by 24.3% in the second quarter. Jacobs Asset Management LLC now owns 1,514,390 shares of the credit services provider’s stock valued at $15,901,000 after buying an additional 295,719 shares in the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.
About NewStar Financial
NewStar Financial, Inc (NewStar) is a commercial finance company. The Company operates through two segments: Commercial Lending and Asset Management. The Commercial Lending segment represents its direct lending activities, which are focused on providing a range of flexible senior secured debt options to mid-sized companies.
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