ABN Amro Investment Solutions Acquires 965,222 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• ABN Amro Investment Solutions sharply increased its stake in Itaú Unibanco, buying 965,222 shares in the fourth quarter and lifting its holdings to 1,377,968 shares worth about $9.87 million.
• Itaú Unibanco shares were up 0.7% to $8.00, with the stock trading between a 12-month low of $5.93 and high of $9.60. The bank currently carries a market cap of $88.56 billion and a P/E ratio of 10.96.
• The company recently missed quarterly earnings estimates, posting $0.20 EPS versus $0.22 expected, while analysts maintain a consensus rating of Moderate Buy with a target price of $9.00.

ABN Amro Investment Solutions increased its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 233.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,377,968 shares of the bank's stock after buying an additional 965,222 shares during the period. ABN Amro Investment Solutions' holdings in Itau Unibanco were worth $9,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock valued at $47,000 after buying an additional 5,355 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Itau Unibanco by 40.1% in the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank's stock worth $48,000 after acquiring an additional 1,901 shares in the last quarter. Community Bank N.A. bought a new position in shares of Itau Unibanco during the third quarter valued at approximately $57,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Itau Unibanco by 486.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank's stock valued at $66,000 after purchasing an additional 7,436 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Itau Unibanco during the fourth quarter valued at approximately $70,000.

Itau Unibanco Trading Up 0.7%

NYSE:ITUB opened at $8.00 on Friday. Itau Unibanco Holding S.A. has a 12 month low of $5.93 and a 12 month high of $9.60. The firm has a fifty day simple moving average of $8.44 and a 200-day simple moving average of $8.08. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $88.56 billion, a P/E ratio of 10.96, a PEG ratio of 0.86 and a beta of 0.63.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a return on equity of 26.50% and a net margin of 27.27%.The company had revenue of $9.01 billion for the quarter, compared to analyst estimates of $9.41 billion. On average, equities research analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be issued a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco's dividend payout ratio (DPR) is 4.11%.

Insider Buying and Selling at Itau Unibanco

In related news, insider Fajerman Sergio Guillinet sold 50,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total transaction of $469,000.00. Following the completion of the transaction, the insider owned 1,265,119 shares of the company's stock, valued at $11,866,816.22. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the transaction, the insider directly owned 1,637,511 shares of the company's stock, valued at approximately $14,442,847.02. This trade represents a 10.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 292,277 shares of company stock valued at $2,646,512. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Itau Unibanco from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 13th. JPMorgan Chase & Co. increased their price objective on shares of Itau Unibanco from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Itau Unibanco Company Profile

Itaú Unibanco SA NYSE: ITUB is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.

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