Published On: Tue, Sep 13th, 2016

Newtek Business Services Inc. (NEWT) Sees Strong Trading Volume

Shares of Newtek Business Services Inc. (NASDAQ:NEWT) saw unusually-strong trading volume on Monday . Approximately 78,545 shares were traded during trading, an increase of 1% from the previous session’s volume of 77,422 shares.The stock last traded at $14.00 and had previously closed at $14.14.
A number of equities analysts have issued reports on NEWT shares. Raymond James Financial Inc. decreased their price target on Newtek Business Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 15th. Zacks Investment Research lowered Newtek Business Services from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, DA Davidson started coverage on Newtek Business Services in a research note on Thursday, June 16th. They set a “buy” rating and a $16.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Newtek Business Services currently has an average rating of “Buy” and a consensus target price of $15.70.
The firm has a 50 day moving average of $13.45 and a 200-day moving average of $12.66. The company has a market capitalization of $205.63 million, a price-to-earnings ratio of 5.76 and a beta of 0.83.

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Newtek Business Services (NASDAQ:NEWT) last released its quarterly earnings data on Monday, August 8th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. On average, equities research analysts anticipate that Newtek Business Services Inc. will post $1.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 12.12%. This is a boost from Newtek Business Services’s previous quarterly dividend of $0.35. Newtek Business Services’s payout ratio is 69.31%.
Newtek Business Services Company Profile
Newtek Business Services Corp. is a non-diversified closed-end management investment company. The Company is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. Its products and services consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions.

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