Itau Unibanco Holding S.A. (NYSE:ITUB) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Itau Unibanco by 11.5%, acquiring an additional 89,569 shares to total 866,035 shares valued at $4.76 million.
• Itau Unibanco recently reported a quarterly earnings per share of $0.18, meeting analysts' expectations, and had revenue of $7.14 billion.
• The company announced a modest dividend yield of 43.0% following a dividend payment of $0.0024, with a payout ratio of 4.23%.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 866,035 shares of the bank's stock after purchasing an additional 89,569 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Itau Unibanco were worth $4,763,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Itau Unibanco during the 4th quarter worth approximately $35,000. Parallel Advisors LLC raised its stake in shares of Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after buying an additional 6,781 shares in the last quarter. Alta Capital Management LLC purchased a new position in shares of Itau Unibanco during the 1st quarter worth approximately $62,000. Tuttle Capital Management LLC purchased a new position in Itau Unibanco in the 1st quarter valued at approximately $67,000. Finally, Waverly Advisors LLC purchased a new position in Itau Unibanco in the 4th quarter valued at approximately $67,000.

Itau Unibanco Price Performance

NYSE ITUB traded down $0.01 during mid-day trading on Friday, hitting $6.96. The stock had a trading volume of 27,047,154 shares, compared to its average volume of 29,769,468. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. The company has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $6.06. The company has a market cap of $75.04 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 1.08 and a beta of 0.74. Itau Unibanco Holding S.A. has a 52-week low of $4.42 and a 52-week high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. Equities analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Cuts Dividend

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

Analyst Ratings Changes

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

About Itau Unibanco

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.