Fox Run Management L.L.C. Makes New $231,000 Investment in Itau Unibanco Holding S.A. $ITUB

Key Points

• Fox Run Management L.L.C. acquired **42,009 shares** of Itau Unibanco Holding S.A., valued at about **$231,000**, in the first quarter.
• UBS Group maintains a **neutral** rating on Itau Unibanco, with analysts giving the stock a **consensus rating of "Buy"** and a price target of **$6.27**.
• Itau Unibanco recently announced a **cut in its dividend**, paying a dividend of **$0.0024** with a yield of **43.0%**.

Fox Run Management L.L.C. purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 42,009 shares of the bank's stock, valued at approximately $231,000.

A number of other institutional investors have also recently made changes to their positions in ITUB. GQG Partners LLC lifted its holdings in shares of Itau Unibanco by 738.6% in the 1st quarter. GQG Partners LLC now owns 77,734,889 shares of the bank's stock valued at $427,542,000 after acquiring an additional 68,465,514 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Itau Unibanco by 311.4% in the 4th quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank's stock valued at $126,898,000 after acquiring an additional 19,365,644 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Itau Unibanco in the 4th quarter valued at about $71,054,000. Voloridge Investment Management LLC lifted its holdings in shares of Itau Unibanco by 127.2% in the 4th quarter. Voloridge Investment Management LLC now owns 6,290,328 shares of the bank's stock valued at $31,200,000 after acquiring an additional 3,521,518 shares during the last quarter. Finally, TT International Asset Management LTD bought a new position in shares of Itau Unibanco in the 1st quarter valued at about $17,826,000.

Wall Street Analysts Forecast Growth

Separately, UBS Group reissued a "neutral" rating on shares of Itau Unibanco in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $6.27.

Itau Unibanco Trading Up 0.2%

Shares of Itau Unibanco stock traded up $0.0150 on Monday, hitting $6.8950. 16,785,905 shares of the company traded hands, compared to its average volume of 28,575,516. The stock's 50 day moving average price is $6.62 and its 200-day moving average price is $6.11. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.13. The company has a market cap of $74.33 billion, a PE ratio of 9.77, a PEG ratio of 1.04 and a beta of 0.74.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $44.75 billion. Equities research analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.0024 per share. This represents a dividend yield of 43.0%. The ex-dividend date of this dividend was Wednesday, July 2nd. Itau Unibanco's payout ratio is currently 33.80%.

Itau Unibanco 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.