Boston Partners Has $1.66 Million Holdings in Itau Unibanco Holding S.A. $ITUB

Key Points

• Boston Partners reduced its holdings in Itau Unibanco by 74%, selling 861,043 shares and retaining 301,841 shares valued at $1.66 million.
• Other hedge funds, such as GQG Partners LLC, increased their positions significantly, with GQG raising its stake by 738.6% during the same period.
• Itau Unibanco's recent earnings report showed an EPS of $0.18, in line with analyst expectations, while the company plans to cut its dividend yield to 43%.

Boston Partners cut its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 74.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 301,841 shares of the bank's stock after selling 861,043 shares during the period. Boston Partners' holdings in Itau Unibanco were worth $1,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GQG Partners LLC grew its position in Itau Unibanco by 738.6% during the first quarter. GQG Partners LLC now owns 77,734,889 shares of the bank's stock valued at $427,542,000 after purchasing an additional 68,465,514 shares in the last quarter. Mondrian Investment Partners LTD grew its position in Itau Unibanco by 8.8% during the first quarter. Mondrian Investment Partners LTD now owns 4,603,099 shares of the bank's stock valued at $25,317,000 after purchasing an additional 374,082 shares in the last quarter. Russell Investments Group Ltd. grew its position in Itau Unibanco by 47.3% during the first quarter. Russell Investments Group Ltd. now owns 6,651,216 shares of the bank's stock valued at $36,582,000 after purchasing an additional 2,136,039 shares in the last quarter. HighTower Advisors LLC grew its position in Itau Unibanco by 17.1% in the first quarter. HighTower Advisors LLC now owns 27,130 shares of the bank's stock worth $149,000 after acquiring an additional 3,963 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its position in Itau Unibanco by 26.1% in the first quarter. Eagle Global Advisors LLC now owns 517,000 shares of the bank's stock worth $2,844,000 after acquiring an additional 107,000 shares in the last quarter.

Itau Unibanco Stock Performance

Shares of NYSE ITUB traded up $0.2370 during trading hours on Friday, hitting $6.8770. 18,830,109 shares of the stock were exchanged, compared to its average volume of 28,553,955. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. The company's 50 day moving average is $6.61 and its 200 day moving average is $6.09. The firm has a market capitalization of $74.14 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.01 and a beta of 0.74. Itau Unibanco Holding S.A. has a one year low of $4.42 and a one year high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $7.14 billion during 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, research analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were issued a dividend of $0.0024 per share. This represents a dividend yield of 43.0%. The ex-dividend date of this dividend was Wednesday, July 2nd. Itau Unibanco's dividend payout ratio is currently 33.80%.

Analysts Set New Price Targets

Separately, UBS Group reissued a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus 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.