Newtek Business Services Inc. (NASDAQ:NEWT) was downgraded by equities researchers at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday. They presently have a $16.00 price objective on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 4.44% from the company’s previous close.

NEWT has been the topic of several other reports. DA Davidson restated a “buy” rating and set a $16.00 price objective on shares of Newtek Business Services in a report on Thursday, September 29th. JMP Securities restated a “hold” rating on shares of Newtek Business Services in a report on Friday, November 18th. Raymond James Financial Inc. reduced their price objective on Newtek Business Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 15th. Finally, Zacks Investment Research downgraded Newtek Business Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $15.25.

Newtek Business Services (NASDAQ:NEWT) opened at 15.32 on Tuesday. The stock has a 50 day moving average price of $14.63 and a 200 day moving average price of $13.57. Newtek Business Services has a 1-year low of $9.37 and a 1-year high of $15.78. The stock has a market cap of $223.75 million, a PE ratio of 5.77 and a beta of 1.36.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.60 annualized dividend and a yield of 10.44%. Newtek Business Services’s dividend payout ratio (DPR) is presently 60.35%.

ILLEGAL ACTIVITY WARNING: “Keefe, Bruyette & Woods Downgrades Newtek Business Services Inc. (NEWT) to Market Perform” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2016/12/01/keefe-bruyette-woods-downgrades-newtek-business-services-inc-newt-to-market-perform.html.

A number of hedge funds have recently made changes to their positions in NEWT. HighTower Advisors LLC boosted its stake in shares of Newtek Business Services by 0.8% in the second quarter. HighTower Advisors LLC now owns 18,174 shares of the company’s stock valued at $237,000 after buying an additional 142 shares during the period. Raymond James & Associates boosted its stake in shares of Newtek Business Services by 1.5% in the second quarter. Raymond James & Associates now owns 48,658 shares of the company’s stock valued at $619,000 after buying an additional 737 shares during the period. West Family Investments Inc. boosted its stake in shares of Newtek Business Services by 2.3% in the second quarter. West Family Investments Inc. now owns 226,647 shares of the company’s stock valued at $2,883,000 after buying an additional 5,100 shares during the period. UBS Group AG boosted its stake in shares of Newtek Business Services by 3.4% in the third quarter. UBS Group AG now owns 204,251 shares of the company’s stock valued at $2,913,000 after buying an additional 6,705 shares during the period. Finally, PARK CIRCLE Co bought a new stake in shares of Newtek Business Services during the second quarter valued at about $112,000. 20.42% of the stock is currently owned by institutional investors and hedge funds.

Newtek Business Services Company Profile

Newtek Business Services Corp. is a non-diversified closed-end management investment company. The Company is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. Its products and services consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions.

5 Day Chart for NASDAQ:NEWT

Receive News & Stock Ratings for Newtek Business Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newtek Business Services Inc. and related stocks with our FREE daily email newsletter.