Bramshill Investments LLC Sells 2,429 Shares of NEWTEK Business Services Corp (NEWT)

Bramshill Investments LLC decreased its holdings in shares of NEWTEK Business Services Corp (NASDAQ:NEWT) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,353 shares of the business services provider’s stock after selling 2,429 shares during the period. Bramshill Investments LLC owned approximately 0.26% of NEWTEK Business Services worth $963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NEWT. Mckinley Capital Management LLC Delaware lifted its position in NEWTEK Business Services by 7.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 156,019 shares of the business services provider’s stock valued at $3,107,000 after purchasing an additional 10,926 shares during the period. Van ECK Associates Corp lifted its position in NEWTEK Business Services by 3.9% in the second quarter. Van ECK Associates Corp now owns 133,242 shares of the business services provider’s stock valued at $2,653,000 after purchasing an additional 5,039 shares during the period. Raymond James & Associates lifted its position in NEWTEK Business Services by 55.7% in the second quarter. Raymond James & Associates now owns 82,764 shares of the business services provider’s stock valued at $1,648,000 after purchasing an additional 29,605 shares during the period. Guggenheim Capital LLC lifted its position in NEWTEK Business Services by 11.1% in the first quarter. Guggenheim Capital LLC now owns 69,073 shares of the business services provider’s stock valued at $1,248,000 after purchasing an additional 6,895 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in NEWTEK Business Services by 17.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 59,261 shares of the business services provider’s stock valued at $1,179,000 after purchasing an additional 8,978 shares during the period. Institutional investors and hedge funds own 21.16% of the company’s stock.

NEWT stock opened at $22.38 on Friday. NEWTEK Business Services Corp has a 12-month low of $16.01 and a 12-month high of $24.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $434.67 million, a PE ratio of 12.64, a P/E/G ratio of 4.06 and a beta of 1.34.

NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. NEWTEK Business Services had a net margin of 105.34% and a return on equity of 8.86%. The company had revenue of $11.40 million during the quarter, compared to the consensus estimate of $11.47 million. analysts forecast that NEWTEK Business Services Corp will post 1.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Monday, September 17th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.58%. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, September 14th. NEWTEK Business Services’s dividend payout ratio (DPR) is presently 94.92%.

A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded 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 report on Thursday, June 28th. BidaskClub downgraded shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Compass Point set a $19.00 price target on shares of NEWTEK Business Services and gave the company a “hold” rating in a research report on Thursday, August 2nd. Finally, Singular Research reiterated a “not rated” rating on shares of NEWTEK Business Services in a research report on Monday, August 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.67.

NEWTEK Business Services Company Profile

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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Institutional Ownership by Quarter for NEWTEK Business Services (NASDAQ:NEWT)

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