Itau Unibanco Holding S.A. $ITUB Stock Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE grew its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 155.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,522,224 shares of the bank’s stock after acquiring an additional 6,404,438 shares during the quarter. Bank of America Corp DE’s holdings in Itau Unibanco were worth $88,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirabaud Asset Management Ltd bought a new stake in shares of Itau Unibanco in the 4th quarter valued at approximately $1,234,000. William Blair Investment Management LLC increased its holdings in Itau Unibanco by 24.0% in the fourth quarter. William Blair Investment Management LLC now owns 36,551,763 shares of the bank’s stock worth $261,679,000 after buying an additional 7,081,568 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Itau Unibanco by 386.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,065,538 shares of the bank’s stock worth $7,629,000 after buying an additional 846,456 shares during the last quarter. Franklin Resources Inc. raised its position in Itau Unibanco by 6.3% during the fourth quarter. Franklin Resources Inc. now owns 32,465,077 shares of the bank’s stock valued at $232,450,000 after acquiring an additional 1,925,708 shares in the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd raised its position in Itau Unibanco by 81.2% during the fourth quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 1,737,000 shares of the bank’s stock valued at $12,437,000 after acquiring an additional 778,500 shares in the last quarter.

Itau Unibanco Trading Down 2.9%

Itau Unibanco stock opened at $7.95 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50-day simple moving average is $8.11 and its 200-day simple moving average is $8.39. The firm has a market capitalization of $88.00 billion, a PE ratio of 10.39, a PEG ratio of 0.86 and a beta of 0.58. Itau Unibanco Holding S.A. has a 52 week low of $6.39 and a 52 week high of $9.60.

Itau Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a return on equity of 22.01% and a net margin of 26.41%. Equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is currently 3.95%.

Wall Street Analyst Weigh In

ITUB has been the subject of several recent research reports. Weiss Ratings downgraded shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Buying and Selling at Itau Unibanco

In related news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the sale, the insider owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

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.