Aberdeen Group plc acquired a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 230,695 shares of the bank's stock, valued at approximately $1,269,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Liontrust Investment Partners LLP raised its holdings in Itau Unibanco by 10.0% in the first quarter. Liontrust Investment Partners LLP now owns 368,500 shares of the bank's stock worth $2,027,000 after purchasing an additional 33,500 shares during the period. Fox Run Management L.L.C. acquired a new stake in Itau Unibanco in the first quarter worth $231,000. Vestmark Advisory Solutions Inc. raised its holdings in Itau Unibanco by 203.6% in the first quarter. Vestmark Advisory Solutions Inc. now owns 82,764 shares of the bank's stock worth $455,000 after purchasing an additional 55,500 shares during the period. GQG Partners LLC raised its holdings in Itau Unibanco by 738.6% in the first quarter. GQG Partners LLC now owns 77,734,889 shares of the bank's stock worth $427,542,000 after purchasing an additional 68,465,514 shares during the period. Finally, Mondrian Investment Partners LTD raised its holdings in Itau Unibanco by 8.8% in the first quarter. Mondrian Investment Partners LTD now owns 4,603,099 shares of the bank's stock worth $25,317,000 after purchasing an additional 374,082 shares during the period.
Itau Unibanco Stock Up 2.3%
Shares of NYSE:ITUB traded up $0.16 during midday trading on Wednesday, reaching $6.96. 38,425,304 shares of the company were exchanged, compared to its average volume of 30,283,322. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $7.13. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. The stock has a fifty day simple moving average of $6.62 and a two-hundred day simple moving average of $6.14. The firm has a market cap of $74.98 billion, a PE ratio of 9.86, a P/E/G ratio of 1.03 and a beta of 0.74.
Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. As a group, sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.
Itau Unibanco Increases Dividend
The firm also recently declared a dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a $0.0026 dividend. This represents a yield of 45.0%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Itau Unibanco's previous dividend of $0.00. Itau Unibanco's dividend payout ratio (DPR) is presently 33.80%.
Analysts Set New Price Targets
Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $6.27.
View Our Latest Research Report on ITUB
Itau Unibanco Company Profile
(
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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