Newtek Business Services Corp. (NEWT) Director Richard J. Salute Buys 1,468 Shares of Stock

Newtek Business Services Corp. (NASDAQ:NEWT) Director Richard J. Salute purchased 1,468 shares of the stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $17.07 per share, for a total transaction of $25,058.76. Following the transaction, the director now directly owns 7,734 shares in the company, valued at $132,019.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Newtek Business Services Corp. (NASDAQ NEWT) opened at $17.19 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.42 and a current ratio of 0.42. Newtek Business Services Corp. has a one year low of $14.69 and a one year high of $18.16. The company has a market capitalization of $309.49, a P/E ratio of 14.19 and a beta of 1.44.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Monday, December 18th will be paid a $0.44 dividend. The ex-dividend date is Friday, December 15th. This represents a $1.76 annualized dividend and a yield of 10.24%.

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Several research analysts have weighed in on NEWT shares. Zacks Investment Research raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, November 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.00 price target on shares of Newtek Business Services Corp. in a research report on Friday, October 13th. ValuEngine raised Newtek Business Services Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $18.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEWT. Wells Fargo & Company MN boosted its stake in Newtek Business Services Corp. by 515.9% in the 1st quarter. Wells Fargo & Company MN now owns 16,894 shares of the business services provider’s stock valued at $287,000 after purchasing an additional 14,151 shares during the period. JPMorgan Chase & Co. boosted its stake in Newtek Business Services Corp. by 288.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,004 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 11,139 shares during the period. KCG Holdings Inc. bought a new stake in Newtek Business Services Corp. in the 1st quarter valued at $227,000. HighTower Advisors LLC boosted its stake in Newtek Business Services Corp. by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 17,902 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 985 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in Newtek Business Services Corp. in the 1st quarter valued at $1,282,000. Institutional investors and hedge funds own 21.48% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Newtek Business Services Corp. (NASDAQ:NEWT)

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