ClariVest Asset Management LLC increased its holdings in Itau Unibanco Holding SA (NYSE:ITUB) by 50.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 849,961 shares of the bank’s stock after buying an additional 284,093 shares during the quarter. ClariVest Asset Management LLC’s holdings in Itau Unibanco were worth $8,823,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of ITUB. Baillie Gifford & Co. lifted its holdings in Itau Unibanco by 7.8% during the second quarter. Baillie Gifford & Co. now owns 28,203,732 shares of the bank’s stock valued at $292,755,000 after purchasing an additional 2,036,391 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Itau Unibanco by 4.2% during the second quarter. Fisher Asset Management LLC now owns 27,305,055 shares of the bank’s stock valued at $283,426,000 after buying an additional 1,104,282 shares during the last quarter. Mondrian Investment Partners LTD raised its position in shares of Itau Unibanco by 0.4% during the second quarter. Mondrian Investment Partners LTD now owns 20,952,224 shares of the bank’s stock valued at $217,484,000 after buying an additional 82,387 shares during the last quarter. FMR LLC raised its position in shares of Itau Unibanco by 1.2% during the second quarter. FMR LLC now owns 20,675,613 shares of the bank’s stock valued at $214,613,000 after buying an additional 239,600 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Itau Unibanco by 261.9% during the first quarter. OppenheimerFunds Inc. now owns 19,881,247 shares of the bank’s stock valued at $310,147,000 after buying an additional 14,387,740 shares during the last quarter. 5.44% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on ITUB shares. Citigroup upgraded shares of Itau Unibanco from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. ValuEngine cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Thursday, June 7th. Finally, Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Itau Unibanco currently has a consensus rating of “Hold” and an average price target of $16.50.
Itau Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, July 31st. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Itau Unibanco had a net margin of 17.21% and a return on equity of 16.67%. equities research analysts anticipate that Itau Unibanco Holding SA will post 1.07 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, October 2nd will be paid a dividend of $0.0036 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, October 1st. Itau Unibanco’s dividend payout ratio is currently 4.39%.
About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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