Amundi Grows Stake in Itau Unibanco Holding S.A. $ITUB

Key Points

• Amundi has increased its stake in Itau Unibanco by 36.7%, acquiring an additional 539,926 shares in the first quarter, resulting in holdings worth approximately $11.4 million.
• GQG Partners significantly boosted its position by 738.6%, now holding 77.7 million shares valued at around $427.5 million.
• Itau Unibanco recently declared a dividend of $0.0454 per share with an annualized yield of 7.8%, following its prior dividend of $0.00.

Amundi increased its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 36.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,009,335 shares of the bank's stock after purchasing an additional 539,926 shares during the quarter. Amundi's holdings in Itau Unibanco were worth $11,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Itau Unibanco by 707.1% during the first quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock valued at $43,000 after purchasing an additional 6,781 shares in the last quarter. Alta Capital Management LLC bought a new position in shares of Itau Unibanco during the first quarter valued at $62,000. Ieq Capital LLC bought a new position in shares of Itau Unibanco during the first quarter valued at $64,000. Tuttle Capital Management LLC bought a new position in shares of Itau Unibanco during the first quarter valued at $67,000. Finally, Waverly Advisors LLC bought a new position in shares of Itau Unibanco during the fourth quarter valued at $67,000.

Itau Unibanco Stock Performance

ITUB stock traded down $0.09 during trading on Friday, reaching $6.99. The stock had a trading volume of 28,726,182 shares, compared to its average volume of 25,883,810. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.23. The stock's 50 day moving average is $6.70 and its two-hundred day moving average is $6.26. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The firm has a market cap of $75.36 billion, a PE ratio of 9.91, a PEG ratio of 1.05 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 analysts' consensus estimates of $0.18. The business 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%. As a group, equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were given a $0.0454 dividend. The ex-dividend date was Wednesday, August 20th. This is a positive change from Itau Unibanco's previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 7.8%. Itau Unibanco's dividend payout ratio (DPR) is currently 4.23%.

Wall Street Analyst Weigh In

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