Keefe, Bruyette & Woods restated their hold rating on shares of Newtek Business Services Corp. (NASDAQ:NEWT) in a research note published on Friday. Keefe, Bruyette & Woods currently has a $18.00 price objective on the business services provider’s stock.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Newtek Business Services Corp. from a hold rating to a buy rating and set a $19.00 price objective on the stock in a report on Tuesday, August 8th. BidaskClub raised Newtek Business Services Corp. from a hold rating to a buy rating in a report on Monday, July 24th. Finally, ValuEngine raised Newtek Business Services Corp. from a buy rating to a strong-buy rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $18.50.

Shares of Newtek Business Services Corp. (NASDAQ:NEWT) opened at 16.99 on Friday. Newtek Business Services Corp. has a 52 week low of $13.76 and a 52 week high of $18.16. The firm has a market cap of $296.29 million, a P/E ratio of 9.16 and a beta of 1.39. The stock has a 50 day moving average of $17.59 and a 200 day moving average of $16.98.

Newtek Business Services Corp. (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%. The firm had revenue of $9.90 million for the quarter, compared to analyst estimates of $9.19 million. Equities analysts forecast that Newtek Business Services Corp. will post $1.77 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were issued a dividend of $0.44 per share. This is a positive change from Newtek Business Services Corp.’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 10.36%. The ex-dividend date of this dividend was Thursday, September 21st. Newtek Business Services Corp.’s dividend payout ratio is 93.62%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG grew its holdings in shares of Newtek Business Services Corp. by 56.7% during the 1st quarter. UBS Group AG now owns 404,163 shares of the business services provider’s stock worth $6,863,000 after purchasing an additional 146,276 shares in the last quarter. Northpointe Capital LLC lifted its position in shares of Newtek Business Services Corp. by 10.8% during the 2nd quarter. Northpointe Capital LLC now owns 283,132 shares of the business services provider’s stock worth $4,612,000 after buying an additional 27,596 shares during the last quarter. Bard Associates Inc. lifted its position in shares of Newtek Business Services Corp. by 0.6% during the 2nd quarter. Bard Associates Inc. now owns 174,956 shares of the business services provider’s stock worth $2,850,000 after buying an additional 991 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Newtek Business Services Corp. by 98.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 172,529 shares of the business services provider’s stock worth $2,810,000 after buying an additional 85,538 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Newtek Business Services Corp. by 27.2% during the 2nd quarter. Van ECK Associates Corp now owns 141,029 shares of the business services provider’s stock worth $2,297,000 after buying an additional 30,180 shares during the last quarter. 22.83% of the stock is currently owned by institutional investors.

About Newtek Business Services Corp.

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

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