Amundi Purchases 1,283,503 Shares of Itau Unibanco Holding S.A. $ITUB

Amundi increased its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 32.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,286,501 shares of the bank's stock after purchasing an additional 1,283,503 shares during the quarter. Amundi's holdings in Itau Unibanco were worth $43,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITUB. Royal Bank of Canada boosted its holdings in shares of Itau Unibanco by 11.7% in the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank's stock worth $2,450,000 after acquiring an additional 46,608 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Itau Unibanco by 28.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank's stock valued at $27,482,000 after purchasing an additional 1,107,607 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 5,355 shares during the period. Guggenheim Capital LLC lifted its holdings in Itau Unibanco by 11.7% during the 2nd quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank's stock worth $804,000 after purchasing an additional 12,442 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Itau Unibanco by 425.3% during the 2nd quarter. First Trust Advisors LP now owns 356,467 shares of the bank's stock worth $2,420,000 after purchasing an additional 288,602 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on ITUB shares. JPMorgan Chase & Co. increased their target price on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings cut shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Itau Unibanco Trading Up 2.8%

NYSE ITUB opened at $8.30 on Friday. The stock's 50-day simple moving average is $8.02 and its two-hundred day simple moving average is $8.20. The company has a market capitalization of $91.99 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.01 and a beta of 0.56. Itau Unibanco Holding S.A. has a twelve month low of $6.54 and a twelve month high of $9.60. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.44.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. The business had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. Research analysts forecast that Itau Unibanco Holding S.A. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total transaction of $625,508.34. Following the transaction, the insider directly owned 933,371 shares of the company's stock, valued at approximately $7,821,648.98. The trade was a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

Itau Unibanco Profile

Itaú Unibanco Holding SA is one of Brazil's largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.

The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.

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