JPMorgan Chase & Co. cut its position in shares of NewStar Financial, Inc. (NASDAQ:NEWS) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,900 shares of the credit services provider’s stock after selling 7,286 shares during the period. JPMorgan Chase & Co. owned 0.09% of NewStar Financial worth $401,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Algert Global LLC purchased a new position in shares of NewStar Financial during the first quarter worth $123,000. Parametric Portfolio Associates LLC boosted its position in shares of NewStar Financial by 69.8% in the first quarter. Parametric Portfolio Associates LLC now owns 17,504 shares of the credit services provider’s stock worth $185,000 after buying an additional 7,198 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of NewStar Financial during the first quarter worth $258,000. Wells Fargo & Company MN boosted its position in shares of NewStar Financial by 67.9% in the first quarter. Wells Fargo & Company MN now owns 24,767 shares of the credit services provider’s stock worth $262,000 after buying an additional 10,019 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in NewStar Financial during the first quarter valued at approximately $262,000. 74.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NewStar Financial, Inc. (NASDAQ:NEWS) opened at 10.86 on Friday. NewStar Financial, Inc. has a 12-month low of $8.03 and a 12-month high of $11.49. The firm has a 50-day moving average of $10.82 and a 200-day moving average of $10.25. The company has a market cap of $451.85 million, a P/E ratio of 19.60 and a beta of 2.03.
NewStar Financial (NASDAQ:NEWS) last released its earnings results on Wednesday, August 2nd. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.05. NewStar Financial had a return on equity of 3.76% and a net margin of 8.65%. The business had revenue of $20.19 million for the quarter, compared to the consensus estimate of $24.32 million. Analysts predict that NewStar Financial, Inc. will post $0.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.08 annualized dividend and a dividend yield of 0.74%. NewStar Financial’s dividend payout ratio is currently 14.55%.
WARNING: This story was originally posted by BNB Daily and is the property of of BNB Daily. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.baseball-news-blog.com/2017/08/19/jpmorgan-chase-co-has-401000-stake-in-newstar-financial-inc-nasdaqnews-updated-updated.html.
Several equities research analysts recently commented on NEWS shares. ValuEngine upgraded shares of NewStar Financial from a “hold” rating to a “buy” rating in a research note on Saturday, May 20th. Zacks Investment Research lowered shares of NewStar Financial from a “hold” rating to a “sell” rating in a research note on Saturday, May 6th. Finally, BidaskClub downgraded shares of NewStar Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Four equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $11.50.
NewStar Financial Company Profile
NewStar Financial, Inc (NewStar) is a commercial finance company. The Company operates through two segments: Commercial Lending and Asset Management. The Commercial Lending segment represents its direct lending activities, which are focused on providing a range of flexible senior secured debt options to mid-sized companies.
Receive News & Ratings for NewStar Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewStar Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.