Ameriprise Financial Inc. Has $45.22 Million Position in Itau Unibanco Holding S.A. $ITUB

Key Points

• Ameriprise Financial Inc. has significantly increased its stake in Itau Unibanco Holding S.A. by 241.2%, owning over 8.2 million shares valued at approximately $45.2 million.
• Other institutional investors, including GQG Partners LLC and Bank of America Corp DE, have also raised their holdings in Itau Unibanco, highlighting increased institutional interest.
• UBS Group has maintained a "neutral" rating on Itau Unibanco shares, while one analyst has rated it as a Strong Buy, with an average price target set at $6.27.

Ameriprise Financial Inc. raised its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 241.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,221,235 shares of the bank's stock after purchasing an additional 5,811,939 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.08% of Itau Unibanco worth $45,219,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ITUB. Allspring Global Investments Holdings LLC increased its stake in shares of Itau Unibanco by 29.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,562 shares of the bank's stock valued at $141,000 after buying an additional 5,743 shares in the last quarter. TT International Asset Management LTD acquired a new stake in Itau Unibanco in the 1st quarter valued at about $17,826,000. INCA Investments LLC increased its position in Itau Unibanco by 10.0% in the 1st quarter. INCA Investments LLC now owns 1,247,501 shares of the bank's stock valued at $6,861,000 after acquiring an additional 113,409 shares in the last quarter. Banco Santander S.A. increased its position in Itau Unibanco by 222.8% in the 1st quarter. Banco Santander S.A. now owns 155,795 shares of the bank's stock valued at $857,000 after acquiring an additional 107,527 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Itau Unibanco by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank's stock valued at $135,260,000 after acquiring an additional 1,549,003 shares in the last quarter.

Itau Unibanco Trading Down 1.1%

ITUB stock traded down $0.08 during midday trading on Wednesday, reaching $6.94. The stock had a trading volume of 24,091,574 shares, compared to its average volume of 29,133,514. Itau Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $7.18. The business has a fifty day simple moving average of $6.66 and a two-hundred day simple moving average of $6.19. 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 firm has a market cap of $74.77 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.08 and a beta of 0.86.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. As a group, research analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.0454 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a c) dividend on an annualized basis and a yield of 7.9%. This is a boost from Itau Unibanco's previous monthly dividend of $0.00. Itau Unibanco's dividend payout ratio (DPR) is presently 33.80%.

Analyst Upgrades and Downgrades

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

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.