State Street Corp lifted its stake in NewStar Financial Inc (NASDAQ:NEWS) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,707 shares of the credit services provider’s stock after buying an additional 50,109 shares during the period. State Street Corp owned approximately 1.15% of NewStar Financial worth $5,039,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oaktop Capital Management II L.P. purchased a new position in NewStar Financial in the second quarter valued at about $23,701,000. Jacobs Asset Management LLC boosted its holdings in NewStar Financial by 24.3% in the second quarter. Jacobs Asset Management LLC now owns 1,514,390 shares of the credit services provider’s stock valued at $15,901,000 after purchasing an additional 295,719 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in NewStar Financial by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,590,665 shares of the credit services provider’s stock valued at $27,202,000 after purchasing an additional 90,892 shares during the last quarter. Northern Trust Corp boosted its holdings in NewStar Financial by 32.0% in the second quarter. Northern Trust Corp now owns 328,786 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 79,612 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in NewStar Financial by 664.7% in the second quarter. Algert Global LLC now owns 89,139 shares of the credit services provider’s stock valued at $936,000 after purchasing an additional 77,482 shares during the last quarter. 73.84% of the stock is owned by institutional investors.
NewStar Financial Inc (NEWS) opened at $11.77 on Wednesday. The company has a market capitalization of $489.94, a PE ratio of 25.08 and a beta of 2.10. NewStar Financial Inc has a 1-year low of $8.42 and a 1-year high of $12.59. The company has a quick ratio of 9.21, a current ratio of 10.24 and a debt-to-equity ratio of 4.55.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, November 28th. NewStar Financial’s dividend payout ratio is presently 17.02%.
A number of brokerages recently commented on NEWS. BidaskClub downgraded NewStar Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded NewStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Janney Montgomery Scott downgraded NewStar Financial from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. NewStar Financial has an average rating of “Hold” and an average price target of $11.50.
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About NewStar Financial
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.
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