Barings LLC Acquires 137,686 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Barings LLC increased its stake in Itau Unibanco Holding S.A. by 10% in Q1, acquiring 1,514,547 shares valued at approximately $8.33 million.
• Itau Unibanco reported $0.18 earnings per share for the last quarter, surpassing the consensus estimate of $0.16.
• The company announced a dividend of $0.0024, reflecting a 43% dividend yield, to be paid on August 8th.

Barings LLC increased its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,514,547 shares of the bank's stock after buying an additional 137,686 shares during the period. Barings LLC's holdings in Itau Unibanco were worth $8,330,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in Itau Unibanco by 29.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,562 shares of the bank's stock worth $141,000 after purchasing an additional 5,743 shares during the period. TT International Asset Management LTD bought a new position in Itau Unibanco during the first quarter worth about $17,826,000. INCA Investments LLC boosted its position in Itau Unibanco by 10.0% during the first quarter. INCA Investments LLC now owns 1,247,501 shares of the bank's stock worth $6,861,000 after purchasing an additional 113,409 shares during the period. Sequoia Financial Advisors LLC boosted its position in Itau Unibanco by 57.6% during the first quarter. Sequoia Financial Advisors LLC now owns 64,009 shares of the bank's stock worth $352,000 after purchasing an additional 23,402 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Itau Unibanco by 15.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,215,961 shares of the bank's stock worth $6,688,000 after purchasing an additional 163,899 shares during the period.

Itau Unibanco Price Performance

Shares of ITUB stock traded up $0.19 during trading hours on Wednesday, reaching $6.67. The stock had a trading volume of 34,052,040 shares, compared to its average volume of 28,515,541. The stock's fifty day simple moving average is $6.54 and its 200 day simple moving average is $5.95. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43. Itau Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $6.95. The firm has a market capitalization of $71.86 billion, a PE ratio of 9.42, a PEG ratio of 1.00 and a beta of 0.74.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a net margin of 11.85% and a return on equity of 19.35%. On average, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.0024 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a dividend yield of 43.0%. Itau Unibanco's dividend payout ratio (DPR) is 4.23%.

Wall Street Analyst Weigh In

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th.

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.