Bramshill Investments LLC trimmed its holdings in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) by 4.8% in the second quarter, HoldingsChannel reports. The firm owned 48,353 shares of the business services provider’s stock after selling 2,429 shares during the period. Bramshill Investments LLC’s holdings in NEWTEK Business Services were worth $963,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of NEWT. IFP Advisors Inc increased its stake in shares of NEWTEK Business Services by 558.8% during the 1st quarter. IFP Advisors Inc now owns 7,280 shares of the business services provider’s stock worth $132,000 after purchasing an additional 6,175 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of NEWTEK Business Services during the 1st quarter worth approximately $182,000. Millennium Management LLC purchased a new position in shares of NEWTEK Business Services during the 1st quarter worth approximately $217,000. LPL Financial LLC increased its stake in shares of NEWTEK Business Services by 69.0% during the 1st quarter. LPL Financial LLC now owns 19,157 shares of the business services provider’s stock worth $346,000 after purchasing an additional 7,820 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of NEWTEK Business Services during the 2nd quarter worth approximately $389,000. 21.16% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on NEWT. Zacks Investment Research raised shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Thursday, June 28th. BidaskClub cut shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Compass Point set a $19.00 price objective on shares of NEWTEK Business Services and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Finally, Singular Research reissued a “not rated” rating on shares of NEWTEK Business Services in a research note on Monday, August 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. NEWTEK Business Services currently has a consensus rating of “Buy” and an average target price of $20.67.
NEWT stock opened at $22.38 on Friday. The company has a market capitalization of $434.67 million, a price-to-earnings ratio of 12.64, a PEG ratio of 4.06 and a beta of 1.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31. NEWTEK Business Services Corp has a one year low of $16.01 and a one year high of $24.24.
NEWTEK Business Services (NASDAQ:NEWT) last released its earnings results on Wednesday, August 1st. The business services provider reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The firm had revenue of $11.40 million during the quarter, compared to analysts’ expectations of $11.47 million. NEWTEK Business Services had a net margin of 105.34% and a return on equity of 8.86%. sell-side analysts expect that NEWTEK Business Services Corp will post 1.9 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Monday, September 17th will be paid a $0.48 dividend. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.42. This represents a $1.92 annualized dividend and a yield of 8.58%. The ex-dividend date is Friday, September 14th. NEWTEK Business Services’s payout ratio is presently 94.92%.
About NEWTEK Business Services
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.
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