1,103,340 Itau Unibanco Holding S.A. $ITUB Shares Bought by ARGA Investment Management LP

ARGA Investment Management LP grew its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 14.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,612,478 shares of the bank's stock after buying an additional 1,103,340 shares during the period. Itau Unibanco makes up about 1.9% of ARGA Investment Management LP's investment portfolio, making the stock its 14th largest holding. ARGA Investment Management LP owned about 0.08% of Itau Unibanco worth $73,464,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ITUB. V Square Quantitative Management LLC bought a new stake in shares of Itau Unibanco in the first quarter worth approximately $59,000. EverSource Wealth Advisors LLC grew its position in Itau Unibanco by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank's stock worth $79,000 after purchasing an additional 1,306 shares during the period. Resonant Capital Advisors LLC bought a new stake in Itau Unibanco in the 1st quarter worth approximately $89,000. Axxcess Wealth Management LLC purchased a new stake in Itau Unibanco during the 3rd quarter valued at $93,000. Finally, Farther Finance Advisors LLC raised its stake in Itau Unibanco by 39.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 12,892 shares of the bank's stock valued at $110,000 after buying an additional 3,661 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Vanzo Orestes sold 74,643 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total transaction of $625,508.34. Following the sale, the insider owned 933,371 shares of the company's stock, valued at $7,821,648.98. This represents a 7.40% 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. Corporate insiders own 0.61% of the company's stock.

Itau Unibanco Price Performance

ITUB stock opened at $7.00 on Wednesday. Itau Unibanco Holding S.A. has a one year low of $6.82 and a one year high of $10.20. The company's fifty day moving average price is $8.50 and its 200-day moving average price is $8.36. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $77.48 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $9.57 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. On average, equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ITUB. Weiss Ratings cut Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. HSBC downgraded Itau Unibanco from a "buy" rating to a "hold" rating and set a $9.10 target price on the stock. in a research report on Thursday, October 8th. JPMorgan Chase & Co. boosted their price target on Itau Unibanco from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Wall Street Zen upgraded Itau Unibanco to a "hold" rating in a research report on Saturday, October 17th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $10.50 price target (up from $9.30) on shares of Itau Unibanco in a research report on Friday, October 9th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.87.

Itau Unibanco Profile

Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.

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