B. Metzler seel. Sohn & Co. AG Buys 7,828,744 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Itau Unibanco by 963.5%, acquiring an additional 7,828,744 shares, bringing its total ownership to approximately 8.64 million shares valued at $47.5 million.
• Itau Unibanco announced a dividend increase to $0.0026 per share, providing a yield of 45.0% for investors, with the payout scheduled for October 8th.
• The company's recent earnings report showed it matching analysts' expectations with $0.18 earnings per share and a revenue of $7.14 billion.

B. Metzler seel. Sohn & Co. AG grew its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 963.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,641,277 shares of the bank's stock after acquiring an additional 7,828,744 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned about 0.08% of Itau Unibanco worth $47,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased 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 acquiring 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. Waverly Advisors LLC bought a new position in shares of Itau Unibanco during the fourth quarter valued at $67,000. Finally, Tuttle Capital Management LLC bought a new position in shares of Itau Unibanco during the first quarter valued at $67,000.

Itau Unibanco Trading Down 0.9%

Itau Unibanco stock opened at $6.81 on Wednesday. The stock has a market capitalization of $73.36 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.04 and a beta of 0.74. The business's fifty day moving average is $6.62 and its 200 day moving average is $6.13. Itau Unibanco Holding S.A. has a one year low of $4.42 and a one year high of $7.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The company 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, sell-side analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.0026 per share. This represents a yield of 45.0%. This is a positive change from Itau Unibanco's previous dividend of $0.00. The ex-dividend date is Tuesday, September 2nd. Itau Unibanco's payout ratio is currently 4.23%.

Analyst Upgrades and Downgrades

Separately, UBS Group restated a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average 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.

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