Connor Clark & Lunn Investment Management Ltd. Buys 89,569 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

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. increased its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 11.5% during 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 5,743 shares during the period. TT International Asset Management LTD purchased a new position in Itau Unibanco in the 1st quarter worth $17,826,000. INCA Investments LLC raised its position in 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 purchasing an additional 113,409 shares during the period. Banco Santander S.A. raised its position in 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 purchasing an additional 107,527 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in Itau Unibanco by 57.6% in the 1st 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.

Wall Street Analysts Forecast Growth

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

Itau Unibanco Trading Down 0.1%

Itau Unibanco stock traded down $0.01 during trading hours on Friday, reaching $6.96. The stock had a trading volume of 27,047,154 shares, compared to its average volume of 29,769,468. The stock has a market cap of $75.04 billion, a PE ratio of 9.87, a PEG 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. 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 has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.05.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. 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 announced a dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.0024 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a dividend yield of 43.0%. Itau Unibanco's payout ratio is presently 4.23%.

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.