Itau Unibanco Holding S.A. $ITUB Shares Purchased by Amundi

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 boosted its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,009,335 shares of the bank's stock after buying an additional 539,926 shares during the quarter. Amundi's holdings in Itau Unibanco were worth $11,433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. grew its position in Itau Unibanco by 10.7% during the first quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank's stock valued at $110,000 after buying an additional 1,930 shares during the period. Royal Bank of Canada grew its position in Itau Unibanco by 11.7% during the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank's stock valued at $2,450,000 after buying an additional 46,608 shares during the period. DRW Securities LLC acquired a new stake in Itau Unibanco during the first quarter valued at $533,000. Orbis Allan Gray Ltd purchased a new position in Itau Unibanco during the first quarter valued at $227,646,000. Finally, GMT Capital Corp lifted its holdings in Itau Unibanco by 24.9% during the first quarter. GMT Capital Corp now owns 7,084,030 shares of the bank's stock valued at $38,962,000 after purchasing an additional 1,414,530 shares in the last quarter.

Itau Unibanco Price Performance

Shares of NYSE:ITUB traded up $0.19 during midday trading on Monday, hitting $7.16. The company's stock had a trading volume of 30,031,877 shares, compared to its average volume of 25,967,758. The business's 50 day simple moving average is $6.70 and its 200 day simple moving average is $6.31. 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 company has a market cap of $77.14 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.23.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. On average, analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 8th. Stockholders of record on Wednesday, August 20th were paid a $0.0454 dividend. This is an increase from Itau Unibanco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Wednesday, August 20th. Itau Unibanco's payout ratio is 4.23%.

Analysts Set New Price Targets

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 issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco presently has an average rating of "Buy" and a consensus price target of $6.27.

About Itau Unibanco

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.