Itau Unibanco Holding S.A. $ITUB Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC has significantly reduced its stake in Itau Unibanco, selling 162,657 shares and decreasing its ownership by 96.6% during the 1st quarter, leaving it with just 5,801 shares valued at $32,000.
• Multiple large investors, including Bessemer Group Inc. and Parallel Advisors LLC, have recently altered their positions in Itau Unibanco, with some significantly increasing their holdings.
• Itau Unibanco's stock has experienced a decline of 1.3%, trading at $7.01, while its latest earnings report showed a net margin of 14.05% and earnings per share of $0.18, matching analyst expectations.

Headlands Technologies LLC reduced its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 96.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,801 shares of the bank's stock after selling 162,657 shares during the quarter. Headlands Technologies LLC's holdings in Itau Unibanco were worth $32,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Itau Unibanco Stock Performance

Shares of ITUB stock traded up $0.04 during mid-day trading on Monday, reaching $7.01. The stock had a trading volume of 10,848,565 shares, compared to its average volume of 28,562,572. The business's fifty day moving average is $6.60 and its 200-day moving average is $6.06. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The firm has a market cap of $75.52 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.06 and a beta of 0.74. Itau Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting 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 return on equity of 19.48% and a net margin of 14.05%. On average, research analysts forecast 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. Investors of record on Thursday, July 3rd were given a dividend of $0.0024 per share. The ex-dividend date was Wednesday, July 2nd. This represents a yield of 43.0%. Itau Unibanco's payout ratio is currently 4.23%.

Itau Unibanco Company Profile

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.