Itau Unibanco Holding S.A. Acquires 529,600 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Itau Unibanco Holding S.A. raised its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 23,818,027 shares of the bank’s stock after buying an additional 529,600 shares during the quarter. Itaú Unibanco comprises approximately 5.7% of Itau Unibanco Holding S.A.’s holdings, making the stock its 3rd largest holding. Itau Unibanco Holding S.A.’s holdings in Itaú Unibanco were worth $134,606,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quattro Financial Advisors LLC boosted its holdings 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 during the last quarter. Capital World Investors boosted its stake in shares of Itaú Unibanco by 64.4% in the first 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 grew its holdings in Itaú Unibanco by 8.5% during the first quarter. First Eagle Investment Management LLC now owns 1,398,982 shares of the bank’s stock worth $9,695,000 after acquiring an additional 109,259 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Itaú Unibanco by 20.9% during the first 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 acquiring an additional 504,500 shares in the last quarter. Finally, Vinland Capital Management Gestora de Recursos LTDA. acquired a new position in Itaú Unibanco in the fourth quarter valued at approximately $22,802,000.

Analyst Ratings Changes

ITUB has been the topic of a number of analyst reports. UBS Group cut shares of Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.05.

Itaú Unibanco Price Performance

Itaú Unibanco stock opened at $6.51 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The company’s fifty day moving average price is $6.42 and its 200 day moving average price is $6.35. The stock has a market capitalization of $63.80 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.85 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 1 year low of $5.12 and a 1 year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The business had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same quarter last year, the business earned $0.18 earnings per share. As a group, equities research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is currently 48.65%.

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.