Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.9% during the 2nd quarter, Holdings Channel reports. The fund owned 1,509,424 shares of the bank’s stock after buying an additional 110,442 shares during the quarter. First Eagle Investment Management LLC’s holdings in Itaú Unibanco were worth $8,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in Itaú Unibanco by 67.0% during the first quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after purchasing an additional 1,755 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Itaú Unibanco by 571.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after buying an additional 5,862 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of Itaú Unibanco in the first quarter worth $49,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Itaú Unibanco in the second quarter valued at $65,000. Finally, Sunpointe LLC purchased a new position in Itaú Unibanco in the 4th quarter valued at about $72,000.

Wall Street Analyst Weigh In

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

Itaú Unibanco Stock Performance

Itaú Unibanco stock opened at $6.71 on Friday. The firm has a market capitalization of $65.76 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The stock’s 50 day moving average price is $6.41 and its 200 day moving average price is $6.35. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $16.54 billion during the quarter, compared to the consensus estimate of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 8th. Investors of record on Wednesday, October 2nd will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is presently 48.65%.

About Itaú Unibanco

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.