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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/12/newtek-business-services-inc-newt-sees-strong-trading-volume.html
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.
Receive News & Ratings for Newtek Business Services Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Newtek Business Services Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.