Gemsstock Ltd. Purchases New Holdings in Itau Unibanco Holding S.A. $ITUB

Gemsstock Ltd. acquired a new position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,328,500 shares of the bank’s stock, valued at approximately $17,091,000. Itau Unibanco accounts for approximately 4.5% of Gemsstock Ltd.’s portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Itau Unibanco by 11.7% during the 1st quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock worth $2,450,000 after purchasing an additional 46,608 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Itau Unibanco by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock worth $27,482,000 after purchasing an additional 1,107,607 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Itau Unibanco during the second quarter worth about $385,000. Hantz Financial Services Inc. increased its holdings in Itau Unibanco by 1,582.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 25,807 shares of the bank’s stock valued at $175,000 after buying an additional 24,273 shares during the period. Finally, Savant Capital LLC raised its position in shares of Itau Unibanco by 132.7% in the 2nd quarter. Savant Capital LLC now owns 34,883 shares of the bank’s stock valued at $237,000 after buying an additional 19,892 shares in the last quarter.

Itau Unibanco Price Performance

ITUB stock opened at $9.26 on Friday. The stock has a market cap of $102.57 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.01 and a beta of 0.62. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.79 and a quick ratio of 1.58. The company has a 50 day simple moving average of $8.16 and a 200 day simple moving average of $7.42. Itau Unibanco Holding S.A. has a 1 year low of $4.73 and a 1 year high of $9.60.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.98 billion. Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%. Research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, December 2nd will be paid a $0.0032 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 0.4%. Itau Unibanco’s dividend payout ratio is currently 4.29%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ITUB shares. JPMorgan Chase & Co. increased their price target on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Zacks Research upgraded Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $9.00.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.