BidaskClub cut shares of NEWTEK Business Services (NASDAQ:NEWT) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Several other research analysts have also recently issued reports on NEWT. LADENBURG THALM/SH SH raised NEWTEK Business Services from a neutral rating to a buy rating and set a $19.00 price target on the stock in a report on Friday, December 28th. Raymond James raised NEWTEK Business Services from a market perform rating to an outperform rating and set a $15.68 price target on the stock in a report on Monday, December 24th. Compass Point began coverage on NEWTEK Business Services in a report on Friday, March 8th. They issued a neutral rating and a $19.00 price target on the stock. TheStreet cut NEWTEK Business Services from a b rating to a c+ rating in a report on Monday, March 11th. Finally, ValuEngine cut NEWTEK Business Services from a buy rating to a hold rating in a report on Monday, December 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $18.67.

Shares of NASDAQ:NEWT opened at $19.22 on Tuesday. NEWTEK Business Services has a 12 month low of $15.59 and a 12 month high of $24.24. The company has a market cap of $363.09 million, a P/E ratio of 9.91, a PEG ratio of 2.98 and a beta of 1.40. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.28.

NEWTEK Business Services (NASDAQ:NEWT) last announced its earnings results on Wednesday, March 6th. The business services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. NEWTEK Business Services had a return on equity of 9.02% and a net margin of 72.06%. The firm had revenue of $14.66 million for the quarter, compared to analysts’ expectations of $12.85 million. As a group, analysts anticipate that NEWTEK Business Services will post 2.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 8.32%. NEWTEK Business Services’s dividend payout ratio is currently 82.47%.

In related news, CEO Barry Sloane purchased 4,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of $19.70 per share, with a total value of $78,800.00. Following the completion of the acquisition, the chief executive officer now owns 1,023,708 shares of the company’s stock, valued at $20,167,047.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Financial Planning LLC purchased a new position in NEWTEK Business Services during the 4th quarter worth approximately $42,000. Advisory Services Network LLC grew its position 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 purchasing an additional 7,524 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position 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 purchasing an additional 797 shares in the last quarter. Fusion Family Wealth LLC grew its position 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 purchasing an additional 1,150 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in NEWTEK Business Services by 197.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after purchasing an additional 7,638 shares in the last quarter. 20.07% of the stock is currently owned by 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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