Hsbc Holdings PLC Buys 186,594 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Hsbc Holdings PLC raised its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,219,210 shares of the bank’s stock after purchasing an additional 186,594 shares during the quarter. Hsbc Holdings PLC’s holdings in Itaú Unibanco were worth $12,941,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ITUB. GAMMA Investing LLC raised its stake in shares of Itaú Unibanco by 67.0% in the first quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,755 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of 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 worth $48,000 after acquiring an additional 5,862 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Itaú Unibanco during the 1st quarter valued at about $49,000. Dynamic Advisor Solutions LLC bought a new stake in Itaú Unibanco in the second quarter valued at about $65,000. Finally, Sunpointe LLC acquired a new position in Itaú Unibanco in the fourth quarter worth about $72,000.

Itaú Unibanco Stock Performance

NYSE ITUB opened at $6.51 on Monday. Itaú Unibanco Holding S.A. has a 1-year low of $5.12 and a 1-year high of $7.27. The company has a 50 day moving average of $6.42 and a 200-day moving average of $6.34. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The firm has a market cap of $63.80 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.85 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share 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 analysts’ expectations of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period last year, the firm posted $0.18 EPS. On average, equities analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 earnings per share 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 given 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 48.65%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ITUB shares. UBS Group downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, August 22nd. Morgan Stanley upgraded Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Itaú Unibanco has an average rating of “Hold” and an average price target of $7.05.

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.