Itau Unibanco Holding S.A. $ITUB Shares Purchased by GMT Capital Corp

Key Points

• GMT Capital Corp increased its stake in Itau Unibanco Holding S.A. by 24.9%, owning over 7 million shares, which now constitutes 2.1% of its total holdings.
• Several institutional investors, including Raymond James Financial Inc. and Dimensional Fund Advisors LP, have adjusted their positions in Itau Unibanco, indicating growing interest in the stock.
• Itau Unibanco recently reported quarterly earnings of $0.18 per share, matching analyst expectations, and declared a monthly dividend of $0.0031 per share for January 2024.

GMT Capital Corp lifted its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,084,030 shares of the bank's stock after acquiring an additional 1,414,530 shares during the period. Itau Unibanco makes up 2.1% of GMT Capital Corp's portfolio, making the stock its 19th biggest position. GMT Capital Corp owned about 0.07% of Itau Unibanco worth $38,962,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ITUB. Parallel Advisors LLC grew its holdings in Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock valued at $43,000 after purchasing an additional 6,781 shares in the last quarter. Alta Capital Management LLC acquired a new stake in Itau Unibanco during the 1st quarter valued at $62,000. Ieq Capital LLC acquired a new stake in Itau Unibanco during the 1st quarter valued at $64,000. Waverly Advisors LLC acquired a new stake in Itau Unibanco during the 4th quarter valued at $67,000. Finally, Tuttle Capital Management LLC acquired a new position in Itau Unibanco during the 1st quarter worth $67,000.

Analyst Upgrades and Downgrades

Separately, UBS Group reissued a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Itau Unibanco presently has an average rating of "Buy" and an average target price of $6.27.

Itau Unibanco Stock Performance

NYSE:ITUB traded down $0.08 during mid-day trading on Wednesday, hitting $6.94. The stock had a trading volume of 23,997,451 shares, compared to its average volume of 28,629,941. The stock has a market capitalization of $74.77 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 1.08 and a beta of 0.86. The company has a 50 day simple moving average of $6.66 and a 200-day simple moving average of $6.19. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.18. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $7.14 billion for 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 earnings per share for the current fiscal year.

Itau Unibanco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 8th. Investors of record on Wednesday, August 20th will be given a $0.0454 dividend. The ex-dividend date is Wednesday, August 20th. This represents a c) annualized dividend and a yield of 7.9%. This is a boost from Itau Unibanco's previous monthly dividend of $0.00. Itau Unibanco's payout ratio is 33.80%.

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.