Raymond James Financial Services Advisors Inc. Has $237,000 Position in Newtek Business Services Corp. (NEWT)

Raymond James Financial Services Advisors Inc. decreased its stake in shares of Newtek Business Services Corp. (NASDAQ:NEWT) by 23.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,554 shares of the business services provider’s stock after selling 4,358 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.08% of Newtek Business Services Corp. worth $237,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NEWT. Wells Fargo & Company MN boosted its position in shares of Newtek Business Services Corp. by 515.9% during the first quarter. Wells Fargo & Company MN now owns 16,894 shares of the business services provider’s stock valued at $287,000 after buying an additional 14,151 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Newtek Business Services Corp. by 288.2% during the first quarter. JPMorgan Chase & Co. now owns 15,004 shares of the business services provider’s stock valued at $255,000 after buying an additional 11,139 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of Newtek Business Services Corp. during the first quarter valued at approximately $227,000. HighTower Advisors LLC boosted its position in shares of Newtek Business Services Corp. by 5.8% during the first quarter. HighTower Advisors LLC now owns 17,902 shares of the business services provider’s stock valued at $300,000 after buying an additional 985 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Newtek Business Services Corp. during the first quarter valued at approximately $1,282,000. 22.48% of the stock is currently owned by institutional investors.

Shares of Newtek Business Services Corp. (NASDAQ NEWT) opened at $17.03 on Friday. The company has a market capitalization of $306.61, a price-to-earnings ratio of 14.19 and a beta of 1.44. Newtek Business Services Corp. has a fifty-two week low of $14.62 and a fifty-two week high of $18.16. The company has a current ratio of 0.42, a quick ratio of 0.44 and a debt-to-equity ratio of 0.26.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Monday, December 18th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, December 15th. This represents a $1.76 dividend on an annualized basis and a yield of 10.33%. Newtek Business Services Corp.’s dividend payout ratio (DPR) is currently 106.67%.

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Several research analysts recently issued reports on NEWT shares. Zacks Investment Research raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday. ValuEngine cut Newtek Business Services Corp. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. BidaskClub raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.00 target price on shares of Newtek Business Services Corp. in a research report on Friday, October 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Newtek Business Services Corp. presently has a consensus rating of “Buy” and a consensus price target of $18.50.

In other Newtek Business Services Corp. news, CEO Barry Sloane purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $16.60 per share, for a total transaction of $49,800.00. Following the completion of the acquisition, the chief executive officer now owns 1,006,113 shares of the company’s stock, valued at approximately $16,701,475.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.70% of the company’s stock.

Newtek Business Services Corp. Company Profile

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

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Institutional Ownership by Quarter for Newtek Business Services Corp. (NASDAQ:NEWT)

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