BidaskClub lowered shares of NEWTEK Business Services (NASDAQ:NEWT) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of NEWTEK Business Services from a hold rating to a sell rating in a research note on Tuesday, October 1st. Zacks Investment Research lowered shares of NEWTEK Business Services from a strong-buy rating to a hold rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $19.17.

NASDAQ NEWT traded up $0.20 on Thursday, reaching $21.63. The company had a trading volume of 159,130 shares, compared to its average volume of 114,430. The firm has a market capitalization of $410.07 million, a price-to-earnings ratio of 11.15 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.34 and a current ratio of 0.34. NEWTEK Business Services has a 1-year low of $15.59 and a 1-year high of $23.99. The company’s fifty day moving average is $22.54 and its 200-day moving average is $21.95.

NEWTEK Business Services (NASDAQ:NEWT) last announced its earnings results on Tuesday, August 6th. The business services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $14.15 million during the quarter, compared to analyst estimates of $14.33 million. NEWTEK Business Services had a net margin of 68.61% and a return on equity of 9.87%. On average, research analysts forecast that NEWTEK Business Services will post 2.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 13.13%. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, December 13th. NEWTEK Business Services’s dividend payout ratio is currently 119.59%.

In other NEWTEK Business Services news, CEO Barry Sloane acquired 2,000 shares of NEWTEK Business Services stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $20.94 per share, for a total transaction of $41,880.00. Following the purchase, the chief executive officer now directly owns 1,029,906 shares in the company, valued at approximately $21,566,231.64. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 2,698 shares of company stock valued at $56,379. Company insiders own 6.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Advisor Group Inc. boosted its stake in shares of NEWTEK Business Services by 64.3% during the 2nd quarter. Advisor Group Inc. now owns 4,494 shares of the business services provider’s stock worth $104,000 after buying an additional 1,759 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of NEWTEK Business Services by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 58,629 shares of the business services provider’s stock worth $1,348,000 after buying an additional 2,736 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of NEWTEK Business Services during the 2nd quarter worth about $76,000. Marshall Wace North America L.P. acquired a new position in shares of NEWTEK Business Services during the 1st quarter worth about $67,000. Finally, Wells Fargo & Company MN boosted its stake in shares of NEWTEK Business Services by 12.7% during the 2nd quarter. Wells Fargo & Company MN now owns 35,745 shares of the business services provider’s stock worth $822,000 after buying an additional 4,015 shares during the last quarter. Institutional investors own 18.08% of the company’s stock.

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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