|Bid||34.78 x 0|
|Ask||34.78 x 0|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (5Y Monthly)||1.32|
|PE Ratio (TTM)||56.68|
|Earnings Date||Jan 10, 2024 - Jan 15, 2024|
|Forward Dividend & Yield||0.98 (2.79%)|
|Ex-Dividend Date||Dec 05, 2023|
|1y Target Est||37.33|
Brazilian investment bank BTG Pactual on Monday announced a deal to buy brokerage Orama DTVM, in yet another sign of consolidation in the sector that saw several finance companies acquired by larger rivals in recent years. The agreement adds to a number of acquisitions recently closed by BTG, including those of brokers Planner and Elite and holding group Universa, while rivals such as XP Inc also remained active in the mergers and acquisition market.
Brazil's central bank is well on track to cut interest rates in August, said the chairman of BTG Pactual, Andre Esteves, believing the pace of monetary easing could be faster than market expectations indicate. With the central bank's Copom rate-setting committee holding its benchmark Selic interest rate at a six-year high of 13.75% for a seventh consecutive policy meeting earlier this month, Esteves is forecasting a 50 basis points cut at the next rate-setting meeting.
Fortitude Capital, founded by former Goldman Sachs partner Antonio Esteves, Brazilian bank BTG Pactual and Portuguese asset manager Atrium, has launched its first fund with a target size of up to 500 million euros ($550 million). Esteves said on Tuesday that, though focused on investing in Portugal, the fund would not exclude opportunities abroad, and was targeting any sector through instruments such as equity, hybrid debt or senior debt. He said that, contrary to the majority of funds in Portugal, the first Fortitude fund would be mostly funded by private investors and its founders will be the fund's biggest investors.