Newtek Business Services Corp. (NASDAQ:NEWT) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.33.

A number of research analysts have issued reports on NEWT shares. Zacks Investment Research cut Newtek Business Services Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Compass Point raised Newtek Business Services Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, May 4th. Keefe, Bruyette & Woods reissued a “mkt perform” rating and set a $18.00 price objective on shares of Newtek Business Services Corp. in a report on Tuesday, May 30th. Finally, BidaskClub raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEWT. Opus Capital Group LLC boosted its position in Newtek Business Services Corp. by 2,611.9% in the first quarter. Opus Capital Group LLC now owns 430,838 shares of the business services provider’s stock worth $7,315,000 after buying an additional 414,951 shares in the last quarter. UBS Group AG boosted its position in Newtek Business Services Corp. by 56.7% in the first quarter. UBS Group AG now owns 404,163 shares of the business services provider’s stock worth $6,863,000 after buying an additional 146,276 shares in the last quarter. LSV Asset Management boosted its position in Newtek Business Services Corp. by 66.4% in the first quarter. LSV Asset Management now owns 287,954 shares of the business services provider’s stock worth $4,889,000 after buying an additional 114,906 shares in the last quarter. Northpointe Capital LLC boosted its position in Newtek Business Services Corp. by 10.8% in the second quarter. Northpointe Capital LLC now owns 283,132 shares of the business services provider’s stock worth $4,612,000 after buying an additional 27,596 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in Newtek Business Services Corp. by 16.1% in the first quarter. West Family Investments Inc. now owns 251,547 shares of the business services provider’s stock worth $4,271,000 after buying an additional 34,900 shares in the last quarter. 23.96% of the stock is owned by institutional investors and hedge funds.

Newtek Business Services Corp. (NEWT) traded up 0.47% during mid-day trading on Tuesday, hitting $16.99. 32,571 shares of the company were exchanged. The stock’s 50 day moving average is $16.74 and its 200-day moving average is $16.62. Newtek Business Services Corp. has a 12-month low of $12.97 and a 12-month high of $18.00. The company has a market cap of $296.29 million, a price-to-earnings ratio of 9.16 and a beta of 1.39.

Newtek Business Services Corp. (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $9.90 million during the quarter, compared to analysts’ expectations of $9.19 million. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%. Equities research analysts predict that Newtek Business Services Corp. will post $1.77 EPS for the current year.

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About Newtek Business Services Corp.

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

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