NewStar Financial, Inc. (NEWS) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of NewStar Financial, Inc. (NASDAQ:NEWS) from a hold rating to a buy rating in a research report report published on Thursday.
Other analysts also recently issued research reports about the stock. ValuEngine upgraded shares of NewStar Financial from a hold rating to a buy rating in a report on Saturday, May 20th. Zacks Investment Research raised shares of NewStar Financial from a hold rating to a buy rating and set a $12.00 price target for the company in a research note on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. NewStar Financial has a consensus rating of Hold and an average price target of $11.50.
Shares of NewStar Financial (NASDAQ NEWS) traded up 0.76% during midday trading on Thursday, reaching $10.65. The company had a trading volume of 26,862 shares. NewStar Financial has a 52 week low of $8.03 and a 52 week high of $11.49. The stock has a 50-day moving average of $10.84 and a 200 day moving average of $10.31. The firm has a market capitalization of $443.11 million, a price-to-earnings ratio of 19.22 and a beta of 2.03.
NewStar Financial (NASDAQ:NEWS) last released its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.05. The business had revenue of $20.19 million during the quarter, compared to analyst estimates of $24.32 million. NewStar Financial had a net margin of 8.65% and a return on equity of 3.76%. On average, analysts anticipate that NewStar Financial will post $0.43 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be paid a $0.02 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.08 annualized dividend and a dividend yield of 0.75%. NewStar Financial’s dividend payout ratio (DPR) is 14.55%.
Several hedge funds have recently bought and sold shares of the stock. Oaktop Capital Management II L.P. purchased a new stake in NewStar Financial during the second quarter valued at $23,701,000. Jacobs Asset Management LLC boosted its stake in NewStar Financial by 24.3% in the second quarter. Jacobs Asset Management LLC now owns 1,514,390 shares of the credit services provider’s stock valued at $15,901,000 after buying an additional 295,719 shares during the period. Kestrel Investment Management Corp purchased a new stake in NewStar Financial during the first quarter valued at $3,092,000. Second Curve Capital LLC boosted its stake in NewStar Financial by 11.2% in the first quarter. Second Curve Capital LLC now owns 1,336,049 shares of the credit services provider’s stock valued at $14,135,000 after buying an additional 135,000 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in NewStar Financial during the first quarter valued at $1,030,000. 74.58% of the stock is owned by institutional investors and hedge funds.
About NewStar Financial
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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