The price of Newtek Business Services Corp. (NASDAQ:NEWT) shares last traded on Wall Street fell -4.20% to $11.41.
Based on available information, 4 analysts follow Newtek Business Services Corp. (NASDAQ:NEWT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $12.00, we find $16.00. Given the previous closing price of $11.91, this indicates a potential upside of 34.34 percent. NEWT stock price is now -34.37% away from the 50-day moving average and -38.61% away from the 200-day moving average. The market capitalization of the company currently stands at $293.12M.
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Among analysts, 4 rate the stock a hold while 0 rate it a buy. Brokers who have rated the stock have averaged $15.00 as their price target over the next twelve months.
, while ‘Compass Point’ rates the stock as ‘Neutral’.
In other news, SLOANE BARRY, Chairman & CEO bought 10,000 shares of the company’s stock on Mar 02. The stock was bought for $153,200 at an average price of $15.32. Upon completion of the transaction, the Chairman & CEO now directly owns 1,108,048 shares in the company, valued at $12.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 18, Chairman & CEO SLOANE BARRY bought 4,200 shares of the business’s stock. A total of $101,636 was incurred on buying the stock at an average price of $24.20. This leaves the insider owning 988,016 shares of the company worth $11.27 million. Insiders disposed of 2,562 shares of company stock worth roughly $29232.420000000002 over the past 1 year. A total of 5.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NEWT stock. A new stake in Newtek Business Services Corp. shares was purchased by SUSQUEHANNA INTERNATIONAL GROUP, LLP during the first quarter worth $4,568,000. ATRIA WEALTH SOLUTIONS, INC. invested $258,000 in shares of NEWT during the first quarter. In the first quarter, VIRTU FINANCIAL LLC acquired a new stake in Newtek Business Services Corp. valued at approximately $174,000. BEACON INVESTMENT ADVISORS LLC acquired a new stake in NEWT for approximately $135,000. QUANTBOT TECHNOLOGIES LP purchased a new stake in NEWT valued at around $118,000 in the second quarter. In total, there are 86 active investors with 15.90% ownership of the company’s stock.
A candlestick chart of Newtek Business Services Corp. (NASDAQ: NEWT) showed a price of $11.89 on Friday morning. During the past 12 months, Newtek Business Services Corp. has had a low of $11.24 and a high of $28.42. The fifty day moving average price for NEWT is $17.29 and a two-hundred day moving average price translates $18.52 for the stock.
The latest earnings results from Newtek Business Services Corp. (NASDAQ: NEWT) was released for Sep, 2022. According to the Asset Management Company, earnings per share came in at $0.62, missing analysts’ expectations of $0.68 by -0.06. This compares to $0.83 EPS in the same period last year. The net profit margin was 41.80% and return on equity was 15.10% for NEWT. The company reported revenue of $23.09 million for the quarter, compared to $24.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.91 percent. For the current quarter, analysts expect NEWT to generate $24.77M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/14/2023. Investors who held shares on 04/04/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 6.31% percent yield. There was an ex-dividend date of 04/03/2023 for this dividend. In terms of dividend payout ratio, NEWT is presently at 132.00%.
Newtek Business Services Corp.(NEWT) Company Profile
Newtek Business Services Corp.,Prior to change in line of business 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. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 years; second lien loans, which have terms of 5 to 25 years, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments. The company originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as provides management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, eCommerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. The company also provides Website hosting, dedicated server, and cloud hosting services; Web design and development; Internet marketing; data storage and backup and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design and Web related services; Accounts Receivable Financing, and The Secure Gateway. In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 million to $3 million in businesses. It provides small business terms loans ranging from $0.05 million to $10 million. The firm also provides account receivable financing ranging from $0.05 million to $1.5 million. It also provides $0.05 million to $10 million financing to owner occupied real estate businesses whose average net income over the last 2 years must not exceed $2.5 million. Newtek Business Services Corp.,Prior to change in line of business was founded in 1998 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City, New York; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana; and New York, New York.
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