Newtek Business Services Corp. Declares Quarterly Dividend of $0.65 (NASDAQ:NEWT)

Newtek Business Services Corp. (NASDAQ:NEWT – Get Ranking) declared a quarterly dividend on Tuesday, August 30th, Zacks studies. Stockholders of report on Tuesday, September 20th will be compensated a dividend of .65 per share by the business enterprise products and services company on Friday, September 30th. This represents a $2.60 dividend on an annualized basis and a dividend generate of 12.30%. The ex-dividend day of this dividend is Monday, September 19th.

Newtek Business Expert services has elevated its dividend by an common of 28.3% yearly over the last three a long time and has elevated its dividend every year for the final 1 consecutive yrs. Newtek Small business Services has a payout ratio of 101.4% indicating that the firm are unable to at present cover its dividend with earnings by itself and is relying on its harmony sheet to cover its dividend payments. Equities analysts assume Newtek Small business Providers to receive $3.29 for every share up coming yr, which usually means the enterprise should really carry on to be equipped to protect its $3.00 annual dividend with an predicted foreseeable future payout ratio of 91.2%.

Newtek Small business Services Buying and selling Down .7 %

Shares of NEWT opened at $21.14 on Wednesday. The firm’s 50-day shifting average rate is $20.56 and its 200-working day moving common selling price is $23.76. The company has a sector capitalization of $514.97 million, a price tag-to-earnings ratio of 8.32 and a beta of 1.14. The organization has a current ratio of 1.44, a swift ratio of 1.44 and a financial debt-to-equity ratio of .97. Newtek Small business Providers has a 1-yr low of $17.65 and a 1-12 months significant of $32.38.

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Newtek Small business Products and services (NASDAQ:NEWT – Get Ranking) past posted its quarterly earnings knowledge on Wednesday, August 3rd. The organization products and services supplier reported $.75 EPS for the quarter, topping the consensus estimate of $.61 by $.14. The business experienced earnings of $19.23 million for the quarter, when compared to analyst estimates of $20.16 million. Newtek Organization Providers had a web margin of 109.21% and a return on fairness of 16.36%. In the course of the exact quarter in the prior yr, the firm posted $1.20 earnings for every share. Offer-side analysts anticipate that Newtek Business enterprise Services will put up 2.87 EPS for the recent calendar year.

Institutional Inflows and Outflows

Hedge cash have lately created variations to their positions in the inventory. Jane Avenue Group LLC elevated its holdings in shares of Newtek Enterprise Companies by 137.7% throughout the 2nd quarter. Jane Road Group LLC now owns 32,602 shares of the small business products and services provider’s stock valued at $617,000 just after getting an more 18,885 shares throughout the past quarter. Cubist Systematic Methods LLC bought a new place in shares of Newtek Small business Services throughout the second quarter valued at somewhere around $267,000. Dynamic Technological innovation Lab Personal Ltd purchased a new stake in Newtek Organization Solutions all through the initially quarter valued at somewhere around $265,000. Captrust Fiscal Advisors bought a new stake in Newtek Company Products and services throughout the second quarter valued at approximately $264,000. Lastly, Guggenheim Cash LLC bought a new stake in Newtek Small business Expert services in the course of the 1st quarter valued at close to $229,000. 17.47% of the stock is owned by hedge money and other institutional buyers.

Wall Street Analyst Weigh In

NEWT has been the topic of quite a few the latest analyst reports. Compass Place lowered their concentrate on price on shares of Newtek Business Providers to $22.00 in a report on Monday, August 15th. Raymond James lifted shares of Newtek Enterprise Expert services from an “underperform” rating to a “marketplace perform” score in a report on Monday, August 8th.

About Newtek Business Providers

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Newtek Small business Companies Corp. is a business growth organization specializing in offering economic and company providers to the modest-and medium-sized organization market place in the United States. The firm also seeks to spend in early phase businesses. The agency seeks to makes each credit card debt and equity investments.

See Also

Dividend History for Newtek Business Services (NASDAQ:NEWT)

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