Altrinsic Global Advisors LLC Has $2.27 Million Position in Itau Unibanco Holding S.A. $ITUB

Key Points

• Altrinsic Global Advisors LLC increased its stake in Itau Unibanco by 10.1% during the 1st quarter, acquiring an additional 37,716 shares, bringing their total to 412,331 shares valued at approximately $2.27 million.
• Several institutional investors also raised their positions during the same period, with Parallel Advisors LLC increasing its stake by 707.1%.
• Analysts have set a consensus rating of "Buy" for Itau Unibanco, with an average target price of $6.27 despite the company reporting mixed earnings, including a net margin of 14.05%.

Altrinsic Global Advisors LLC raised its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 412,331 shares of the bank's stock after buying an additional 37,716 shares during the quarter. Altrinsic Global Advisors LLC's holdings in Itau Unibanco were worth $2,268,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in Itau Unibanco by 707.1% in the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after purchasing an additional 6,781 shares during the period. Alta Capital Management LLC acquired a new stake in Itau Unibanco in the 1st quarter valued at approximately $62,000. Waverly Advisors LLC bought a new stake in Itau Unibanco in the 4th quarter valued at approximately $67,000. Tuttle Capital Management LLC bought a new position in shares of Itau Unibanco during the 1st quarter worth approximately $67,000. Finally, Avantax Advisory Services Inc. lifted its position in shares of Itau Unibanco by 21.6% in the first quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank's stock worth $76,000 after purchasing an additional 2,468 shares in the last quarter.

Analysts Set New Price Targets

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

Itau Unibanco Stock Performance

Itau Unibanco stock traded up $0.16 during midday trading on Thursday, reaching $7.12. 29,888,326 shares of the company's stock were exchanged, compared to its average volume of 30,539,276. The stock's 50-day simple moving average is $6.63 and its 200 day simple moving average is $6.15. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 1.06 and a beta of 0.74. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.18.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released 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 company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. On average, analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Tuesday, December 2nd will be issued a dividend of $0.0031 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 0.5%. Itau Unibanco's payout ratio is presently 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.