Eagle Global Advisors LLC Buys 107,000 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Eagle Global Advisors LLC increased its stake in Itau Unibanco by 26.1%, owning a total of 517,000 shares worth approximately $2,844,000 as of its latest SEC filing.
• Itau Unibanco recently announced a dividend yield of 43.0%, paying a $0.0024 dividend to stockholders of record, reflecting its current payout ratio of 32.39%.
• Analysts forecast that Itau Unibanco will post 0.8 earnings per share for the current year, with a recent earnings report matching expectations at $0.18 EPS.

Eagle Global Advisors LLC raised its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 26.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 517,000 shares of the bank's stock after buying an additional 107,000 shares during the quarter. Eagle Global Advisors LLC's holdings in Itau Unibanco were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Todd Asset Management LLC grew its holdings in shares of Itau Unibanco by 10.5% during the first quarter. Todd Asset Management LLC now owns 5,802,840 shares of the bank's stock worth $31,916,000 after buying an additional 550,396 shares in the last quarter. Longfellow Investment Management Co. LLC lifted its position in shares of Itau Unibanco by 25.7% in the first quarter. Longfellow Investment Management Co. LLC now owns 409,472 shares of the bank's stock valued at $2,252,000 after buying an additional 83,704 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Itau Unibanco in the first quarter valued at approximately $1,048,000. Virtu Financial LLC acquired a new stake in shares of Itau Unibanco in the first quarter valued at approximately $1,434,000. Finally, Invesco Ltd. lifted its holdings in Itau Unibanco by 58.8% during the 1st quarter. Invesco Ltd. now owns 585,013 shares of the bank's stock worth $3,218,000 after purchasing an additional 216,519 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Itau Unibanco Trading Down 0.5%

Shares of Itau Unibanco stock traded down $0.04 on Friday, hitting $6.94. 20,446,997 shares of the company's stock traded hands, compared to its average volume of 28,633,539. Itau Unibanco Holding S.A. has a one year low of $4.42 and a one year 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 moving average of $6.59 and a two-hundred day moving average of $6.04. The company has a market capitalization of $74.77 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.08 and a beta of 0.74.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. As a group, sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Cuts Dividend

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