BBX Capital (BBX) Hits New 52-Week Low at $6.21

BBX Capital Corp (NYSE:BBX) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $6.21 and last traded at $6.28, with a volume of 2907 shares trading hands. The stock had previously closed at $6.33.

BBX has been the subject of a number of recent research reports. B. Riley lowered their target price on BBX Capital from $15.00 to $14.50 and set a “buy” rating for the company in a research note on Thursday, June 28th. Zacks Investment Research lowered BBX Capital from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th.

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $721.47 million, a price-to-earnings ratio of 8.68 and a beta of 1.58.

BBX Capital (NYSE:BBX) last issued its quarterly earnings data on Friday, August 3rd. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.21. BBX Capital had a return on equity of 6.11% and a net margin of 7.74%. The firm had revenue of $194.94 million during the quarter, compared to analyst estimates of $255.16 million. As a group, research analysts forecast that BBX Capital Corp will post 0.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.64%. BBX Capital’s dividend payout ratio (DPR) is presently 5.56%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in BBX Capital by 355.4% during the 2nd quarter. BlackRock Inc. now owns 3,911,716 shares of the financial services provider’s stock valued at $35,323,000 after purchasing an additional 3,052,693 shares in the last quarter. Renaissance Technologies LLC grew its stake in BBX Capital by 161.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,707,600 shares of the financial services provider’s stock valued at $15,420,000 after purchasing an additional 1,055,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in BBX Capital by 20.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,577,093 shares of the financial services provider’s stock valued at $14,241,000 after purchasing an additional 266,762 shares in the last quarter. Millennium Management LLC grew its stake in BBX Capital by 334.4% during the 1st quarter. Millennium Management LLC now owns 911,424 shares of the financial services provider’s stock valued at $8,394,000 after purchasing an additional 701,619 shares in the last quarter. Finally, Northern Trust Corp grew its stake in BBX Capital by 312.5% during the 2nd quarter. Northern Trust Corp now owns 738,148 shares of the financial services provider’s stock valued at $6,665,000 after purchasing an additional 559,185 shares in the last quarter. Hedge funds and other institutional investors own 32.19% of the company’s stock.

About BBX Capital (NYSE:BBX)

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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