Aberdeen Group plc Buys Shares of 230,695 Itau Unibanco Holding S.A. $ITUB

Key Points

• Aberdeen Group plc purchased a new stake in Itau Unibanco Holding S.A., acquiring 230,695 shares valued at approximately $1,269,000 in the first quarter.
• Several hedge funds, including Raymond James Financial Inc. and Guggenheim Capital LLC, have also increased their positions in Itau Unibanco significantly during the fourth quarter.
• Itau Unibanco reported a net margin of 14.05% and earnings of $0.18 per share for the most recent quarter, meeting analysts' expectations.

Aberdeen Group plc bought a new position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 230,695 shares of the bank's stock, valued at approximately $1,269,000.

A number of other hedge funds also recently made changes to their positions in the company. Liontrust Investment Partners LLP lifted its position in shares of 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 buying an additional 33,500 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Itau Unibanco in the first quarter worth about $231,000. Vestmark Advisory Solutions Inc. lifted its position in shares of 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 buying an additional 55,500 shares in the last quarter. GQG Partners LLC lifted its position in shares of 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 buying an additional 68,465,514 shares in the last quarter. Finally, Mondrian Investment Partners LTD lifted its position in shares of 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 buying an additional 374,082 shares in the last quarter.

Itau Unibanco Trading Down 1.1%

ITUB stock traded down $0.08 during midday trading on Tuesday, reaching $6.80. 22,774,968 shares of the company traded hands, compared to its average volume of 28,584,947. 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 debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. The business has a 50 day moving average of $6.62 and a 200-day moving average of $6.13. The firm has a market capitalization of $73.26 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 1.04 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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. As a group, sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a research report 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 given a Hold rating to the company. According to MarketBeat, Itau Unibanco currently has a consensus rating of "Buy" and an average target price of $6.27.

Itau 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.