SPX Gestao de Recursos Ltda Takes Position in Itau Unibanco Holding S.A. $ITUB

SPX Gestao de Recursos Ltda acquired a new position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 479,169 shares of the bank’s stock, valued at approximately $3,915,000.

Several other institutional investors have also recently modified their holdings of ITUB. Kestra Advisory Services LLC acquired a new stake in Itau Unibanco during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after acquiring an additional 5,355 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Itau Unibanco by 40.1% in the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after acquiring an additional 1,901 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Itau Unibanco in the first quarter valued at $59,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after acquiring an additional 7,436 shares in the last quarter.

Insider Activity

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the sale, the insider owned 1,008,014 shares in the company, valued at $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Itau Unibanco Stock Down 0.3%

Shares of NYSE ITUB opened at $7.51 on Friday. Itau Unibanco Holding S.A. has a 1 year low of $6.54 and a 1 year high of $9.60. The firm’s 50 day moving average price is $8.02 and its 200 day moving average price is $8.29. The firm has a market cap of $83.18 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.81 and a beta of 0.58. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. As a group, sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

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.