Wells Fargo & Company MN Sells 10,019 Shares of NewStar Financial, Inc. (NEWS)
Wells Fargo & Company MN decreased its stake in shares of NewStar Financial, Inc. (NASDAQ:NEWS) by 40.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,748 shares of the credit services provider’s stock after selling 10,019 shares during the period. Wells Fargo & Company MN’s holdings in NewStar Financial were worth $155,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of NEWS. Oaktop Capital Management II L.P. purchased a new stake in NewStar Financial during the 2nd quarter worth about $23,701,000. Algert Global LLC lifted its holdings in NewStar Financial by 664.7% during the 2nd quarter. Algert Global LLC now owns 89,139 shares of the credit services provider’s stock worth $936,000 after purchasing an additional 77,482 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in NewStar Financial during the 2nd quarter worth about $406,000. TIAA CREF Investment Management LLC lifted its holdings in NewStar Financial by 26.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 94,471 shares of the credit services provider’s stock worth $1,000,000 after purchasing an additional 19,936 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in NewStar Financial during the 2nd quarter worth about $202,000. 73.31% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on NEWS. BidaskClub raised NewStar Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut NewStar Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. Janney Montgomery Scott cut NewStar Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Finally, ValuEngine cut NewStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. NewStar Financial currently has an average rating of “Hold” and an average price target of $11.50.
Shares of NewStar Financial, Inc. (NEWS) opened at $11.80 on Friday. NewStar Financial, Inc. has a 1-year low of $8.03 and a 1-year high of $12.59. The firm has a market capitalization of $491.19, a PE ratio of 25.15 and a beta of 2.13. The company has a quick ratio of 9.21, a current ratio of 10.24 and a debt-to-equity ratio of 4.55.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.68%. NewStar Financial’s payout ratio is currently 17.02%.
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NewStar Financial Profile
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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