Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 311.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,584,177 shares of the bank's stock after purchasing an additional 19,365,644 shares during the period. Bank of America Corp DE owned approximately 0.26% of Itaú Unibanco worth $126,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bessemer Group Inc. bought a new position in shares of Itaú Unibanco during the 4th quarter valued at approximately $35,000. Mount Yale Investment Advisors LLC purchased a new position in Itaú Unibanco in the 4th quarter worth $57,000. Signaturefd LLC raised its position in Itaú Unibanco by 4,000.3% in the 4th quarter. Signaturefd LLC now owns 12,260 shares of the bank's stock worth $61,000 after purchasing an additional 11,961 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of Itaú Unibanco in the fourth quarter valued at about $67,000. Finally, Peapack Gladstone Financial Corp increased its position in shares of Itaú Unibanco by 13.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock valued at $84,000 after acquiring an additional 2,000 shares during the period.

Itaú Unibanco Stock Up 0.4%

NYSE ITUB traded up $0.03 during trading on Friday, reaching $6.67. 13,908,211 shares of the company's stock traded hands, compared to its average volume of 24,635,640. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. The firm has a market cap of $71.86 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.89 and a beta of 0.76. The company's 50 day simple moving average is $5.79 and its two-hundred day simple moving average is $5.32. Itaú Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $6.70.

Itaú Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The bank reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $43.07 billion. As a group, sell-side analysts forecast that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 6th will be given a $0.0024 dividend. This represents a dividend yield of 0.46%. The ex-dividend date is Monday, May 5th. Itaú Unibanco's dividend payout ratio (DPR) is 2.82%.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded shares of Itaú Unibanco from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $6.27.

Itaú Unibanco Company 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.