BidaskClub upgraded shares of Newtek Business Services (NASDAQ:NEWT) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other research analysts also recently commented on the stock. Keefe, Bruyette & Woods reissued a hold rating and issued a $18.00 price objective on shares of Newtek Business Services in a research report on Friday, October 13th. ValuEngine downgraded shares of Newtek Business Services from a strong-buy rating to a buy rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Newtek Business Services from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Wednesday, November 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Newtek Business Services currently has a consensus rating of Hold and an average price target of $18.50.

Shares of Newtek Business Services (NASDAQ NEWT) traded up $0.35 on Tuesday, hitting $18.99. 1,241,106 shares of the stock were exchanged, compared to its average volume of 200,182. Newtek Business Services has a 52 week low of $15.15 and a 52 week high of $19.40. The company has a market cap of $343.34, a P/E ratio of 15.89, a PEG ratio of 3.47 and a beta of 1.43. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.26.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date is Friday, December 15th. Newtek Business Services’s dividend payout ratio (DPR) is presently 106.67%.

In related news, Director Richard J. Salute bought 1,468 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was bought at an average price of $17.07 per share, for a total transaction of $25,058.76. Following the purchase, the director now owns 7,734 shares in the company, valued at approximately $132,019.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barry Sloane bought 3,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $16.60 per share, with a total value of $49,800.00. Following the purchase, the chief executive officer now owns 1,006,113 shares in the company, valued at approximately $16,701,475.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,568 shares of company stock valued at $110,106. Insiders own 6.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fusion Family Wealth LLC lifted its stake in shares of Newtek Business Services by 56.6% during the 2nd quarter. Fusion Family Wealth LLC now owns 6,935 shares of the business services provider’s stock worth $113,000 after buying an additional 2,506 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Newtek Business Services during the 2nd quarter worth about $171,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Newtek Business Services during the 2nd quarter worth about $207,000. American Asset Management Inc. lifted its stake in shares of Newtek Business Services by 0.4% during the 2nd quarter. American Asset Management Inc. now owns 14,345 shares of the business services provider’s stock worth $234,000 after buying an additional 51 shares during the last quarter. Finally, Commonwealth Equity Services Inc lifted its stake in shares of Newtek Business Services by 61.2% during the 3rd quarter. Commonwealth Equity Services Inc now owns 25,670 shares of the business services provider’s stock worth $457,000 after buying an additional 9,744 shares during the last quarter. Institutional investors own 20.98% of the company’s stock.

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Newtek Business Services Company Profile

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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