BBX Capital (BBX) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of BBX Capital (NYSE:BBX) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $7.50 price objective on the financial services provider’s stock.
According to Zacks, “BBX Capital Corporation is a holding company whose principal holding is Bluegreen Corporation. The Company is involved in the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects, as well as acquisitions, investments and management of middle market operating businesses. BBX Capital Corporation, formerly known as BFC Financial Corporation, is based in FL, United States. “
Separately, B. Riley dropped their target price on shares of BBX Capital from $15.00 to $14.50 and set a buy rating on the stock in a report on Thursday, June 28th.
BBX Capital (NYSE:BBX) last announced its earnings results on Friday, August 3rd. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.15 by $0.21. The firm had revenue of $194.94 million for the quarter, compared to the consensus estimate of $255.16 million. BBX Capital had a net margin of 7.74% and a return on equity of 6.11%. On average, research analysts expect that BBX Capital will post 0.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, September 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.04 annualized dividend and a yield of 0.64%. BBX Capital’s dividend payout ratio (DPR) is presently 5.56%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in BBX Capital by 28.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,310,331 shares of the financial services provider’s stock worth $12,068,000 after acquiring an additional 293,467 shares during the period. MYDA Advisors LLC bought a new position in BBX Capital in the 2nd quarter worth $163,000. Russell Investments Group Ltd. bought a new position in BBX Capital in the 1st quarter worth $849,000. Zacks Investment Management acquired a new stake in BBX Capital in the 2nd quarter worth $106,000. Finally, GSA Capital Partners LLP acquired a new stake in BBX Capital in the 2nd quarter worth $1,483,000. Hedge funds and other institutional investors own 32.19% of the company’s stock.
About BBX Capital
BBX Capital Corporation, formerly known as BFC Financial Corporation, is a private equity and venture capital firm specializing in investments and acquisitions of middle market companies. The firm also invests in mergers and acquisition, add-on acquisitions, divestiture, taking public companies private and private companies public, leveraged buyout, partnership, recapitalization, and restructuring.
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