SG Americas Securities LLC Makes New $165,000 Investment in Itaú Unibanco Holding S.A. (NYSE:ITUB)

SG Americas Securities LLC purchased a new stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, HoldingsChannel reports. The institutional investor purchased 28,193 shares of the bank’s stock, valued at approximately $165,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ITUB. Quattro Financial Advisors LLC raised its stake in Itaú Unibanco by 4,285,614.3% in the first quarter. Quattro Financial Advisors LLC now owns 300,000 shares of the bank’s stock valued at $2,079,000 after purchasing an additional 299,993 shares in the last quarter. Capital World Investors increased its holdings in shares of Itaú Unibanco by 64.4% in the 1st quarter. Capital World Investors now owns 8,654,237 shares of the bank’s stock worth $59,974,000 after buying an additional 3,390,463 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Itaú Unibanco by 8.5% in the 1st quarter. First Eagle Investment Management LLC now owns 1,398,982 shares of the bank’s stock worth $9,695,000 after buying an additional 109,259 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Itaú Unibanco by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 2,917,740 shares of the bank’s stock valued at $20,220,000 after buying an additional 504,500 shares in the last quarter. Finally, Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in shares of Itaú Unibanco during the 4th quarter worth $22,802,000.

Analysts Set New Price Targets

A number of research firms recently commented on ITUB. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.05.

Itaú Unibanco Trading Up 1.8 %

NYSE ITUB opened at $6.70 on Friday. The stock has a 50-day moving average of $6.15 and a 200-day moving average of $6.39. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.37. Itaú Unibanco Holding S.A. has a 1-year low of $5.12 and a 1-year high of $7.27. The firm has a market cap of $65.67 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.72 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. The firm had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. During the same quarter last year, the business earned $0.18 earnings per share. As a group, sell-side analysts forecast that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current year.

Itaú Unibanco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.55%. Itaú Unibanco’s dividend payout ratio is currently 4.05%.

Itaú Unibanco Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.