Eagle Global Advisors LLC raised its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 50.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 410,000 shares of the bank's stock after buying an additional 138,000 shares during the period. Eagle Global Advisors LLC's holdings in Itaú Unibanco were worth $2,034,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ITUB. Bessemer Group Inc. bought a new stake in Itaú Unibanco in the 4th quarter worth $35,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Itaú Unibanco in the 4th quarter worth approximately $57,000. Signaturefd LLC grew its position in shares of 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 buying an additional 11,961 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Itaú Unibanco in the 4th quarter worth approximately $67,000. Finally, Peapack Gladstone Financial Corp grew its position in shares of Itaú Unibanco by 13.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock worth $84,000 after buying an additional 2,000 shares during the last quarter.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ITUB. Hsbc Global Res upgraded Itaú Unibanco to a "strong-buy" rating in a research report on Monday, January 13th. HSBC raised shares of Itaú Unibanco from a "hold" rating to a "buy" rating and set a $6.18 target price on the stock in a research note on Monday, January 13th. Finally, UBS Group upgraded Itaú Unibanco from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Four equities research 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.com, the company has an average rating of "Buy" and an average target price of $6.27.
View Our Latest Stock Report on ITUB
Itaú Unibanco Stock Performance
Shares of Itaú Unibanco stock traded up $0.13 during trading on Tuesday, hitting $6.58. 14,077,328 shares of the company's stock traded hands, compared to its average volume of 24,465,972. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. Itaú Unibanco Holding S.A. has a 1 year low of $4.42 and a 1 year high of $6.62. The stock has a market capitalization of $70.94 billion, a P/E ratio of 8.44, a PEG ratio of 0.89 and a beta of 0.76. The business has a 50-day simple moving average of $5.70 and a 200-day simple moving average of $5.30.
Itaú Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $7.93 billion for the quarter, compared to analysts' expectations of $43.07 billion. Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. As a group, analysts forecast that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current year.
Itaú Unibanco Cuts Dividend
The firm also recently declared a dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 6th will be paid a dividend of $0.0024 per share. This represents a dividend yield of 0.46%. The ex-dividend date is Monday, May 5th. Itaú Unibanco's dividend payout ratio is presently 2.82%.
About Itaú Unibanco
(
Free Report)
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.
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