Euro Pacific Asset Management LLC Increases Holdings in Itau Unibanco Holding S.A. $ITUB

Key Points

• Euro Pacific Asset Management more than doubled its stake in Itaú Unibanco in the first quarter, increasing holdings by 123.8% to 424,856 shares valued at about $3.57 million.
• The bank reported mixed quarterly results, with earnings of $0.20 per share missing estimates and revenue of $9.01 billion also coming in below expectations.
• Itaú Unibanco announced a special dividend of $0.068 per share, while analysts remain broadly constructive with a consensus rating of Moderate Buy and an average price target of $10.00.

Euro Pacific Asset Management LLC increased its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 123.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 424,856 shares of the bank's stock after buying an additional 235,029 shares during the quarter. Euro Pacific Asset Management LLC's holdings in Itau Unibanco were worth $3,567,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GQG Partners LLC boosted its stake in Itau Unibanco by 6.3% in the fourth quarter. GQG Partners LLC now owns 96,959,405 shares of the bank's stock valued at $694,229,000 after acquiring an additional 5,737,696 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in Itau Unibanco by 104.3% in the second quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank's stock valued at $574,053,000 after purchasing an additional 43,153,787 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Itau Unibanco by 3.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 63,525,566 shares of the bank's stock worth $454,843,000 after buying an additional 2,394,121 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Itau Unibanco by 1.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 58,581,150 shares of the bank's stock valued at $419,441,000 after buying an additional 956,962 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Itau Unibanco by 5.2% in the fourth quarter. JPMorgan Chase & Co. now owns 43,540,350 shares of the bank's stock valued at $311,749,000 after buying an additional 2,153,260 shares during the period.

Itau Unibanco Stock Down 1.1%

ITUB stock opened at $8.21 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $90.88 billion, a PE ratio of 11.25, a PEG ratio of 0.89 and a beta of 0.58. Itau Unibanco Holding S.A. has a twelve month low of $5.93 and a twelve month high of $9.60. The stock has a 50-day simple moving average of $7.99 and a two-hundred day simple moving average of $8.28.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. The company had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $9.41 billion. On average, equities analysts predict that Itau Unibanco Holding S.A. will post 0.89 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, June 22nd will be paid a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco's dividend payout ratio is currently 4.11%.

Insider Transactions at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares of the company's stock, valued at $8,306,035.36. This trade represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on ITUB shares. JPMorgan Chase & Co. increased their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.00.

Itau Unibanco Company Profile

Itaú Unibanco SA NYSE: ITUB is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.

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