Bayforest Capital Ltd bought a new position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 75,513 shares of the bank's stock, valued at approximately $513,000.
Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Itau Unibanco by 29.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,562 shares of the bank's stock worth $141,000 after buying an additional 5,743 shares during the period. TT International Asset Management LTD purchased a new position in shares of Itau Unibanco in the 1st quarter worth approximately $17,826,000. Vanguard Group Inc. grew its position in shares of Itau Unibanco by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank's stock worth $135,260,000 after buying an additional 1,549,003 shares during the last quarter. INCA Investments LLC grew its position in shares of Itau Unibanco by 10.0% in the 1st quarter. INCA Investments LLC now owns 1,247,501 shares of the bank's stock worth $6,861,000 after buying an additional 113,409 shares during the last quarter. Finally, Banco Santander S.A. grew its position in shares of Itau Unibanco by 222.8% in the 1st quarter. Banco Santander S.A. now owns 155,795 shares of the bank's stock worth $857,000 after buying an additional 107,527 shares during the last quarter.
Itau Unibanco Trading Down 0.2%
Shares of ITUB stock opened at $6.86 on Wednesday. The company's 50-day moving average price is $7.03 and its 200-day moving average price is $6.56. 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 stock has a market cap of $73.90 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.02 and a beta of 0.84. Itau Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $7.45.
Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The company had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $44.75 billion. As a group, equities analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.
Itau Unibanco Increases Dividend
The company also recently announced a monthly dividend, which was paid on Monday, September 8th. Investors of record on Wednesday, August 20th were issued a $0.0454 dividend. This represents a c) annualized dividend and a yield of 7.9%. This is a positive change from Itau Unibanco's previous monthly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, August 20th. Itau Unibanco's dividend payout ratio is 4.23%.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Itau Unibanco in a research note on Wednesday, October 8th. Zacks Research raised shares of Itau Unibanco from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $6.27.
Get Our Latest Report on ITUB
About Itau Unibanco
(
Free Report)
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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