Itau Unibanco Holding S.A. $ITUB Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Itau Unibanco Holding S.A. by 36.5%, owning 3,618,843 shares valued at approximately $19.89 million as of the latest quarter.
• Itau Unibanco recently declared a dividend of $0.0024 per share, resulting in a 43.0% dividend yield, though the firm has a current dividend payout ratio of 33.80%.
• The company's stock has a 12-month price range of $4.42 to $7.13, with analysts projecting an earnings per share (EPS) of 0.8 for the current year.

Hsbc Holdings PLC increased its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 36.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,618,843 shares of the bank's stock after acquiring an additional 967,095 shares during the period. Hsbc Holdings PLC's holdings in Itau Unibanco were worth $19,889,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ITUB. Parallel Advisors LLC grew its holdings 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 purchasing an additional 6,781 shares during the period. Alta Capital Management LLC purchased a new stake in Itau Unibanco in the first quarter valued at approximately $62,000. Waverly Advisors LLC purchased a new stake in Itau Unibanco in the fourth quarter valued at approximately $67,000. Tuttle Capital Management LLC purchased a new stake in Itau Unibanco in the first quarter valued at approximately $67,000. Finally, Avantax Advisory Services Inc. grew its holdings in Itau Unibanco by 21.6% in the first quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank's stock valued at $76,000 after purchasing an additional 2,468 shares during the period.

Itau Unibanco Trading Up 2.4%

ITUB stock traded up $0.17 during midday trading on Thursday, reaching $7.13. 23,703,730 shares of the company's stock traded hands, compared to its average volume of 28,664,295. The company has a market capitalization of $76.81 billion, a P/E ratio of 10.10, a PEG ratio of 1.03 and a beta of 0.74. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $7.18. The business has a 50-day moving average price of $6.62 and a two-hundred day moving average price of $6.14.

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 for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. Equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $0.0031 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 2nd. Itau Unibanco's payout ratio is presently 33.80%.

Analyst Upgrades and Downgrades

Separately, UBS Group restated 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 issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $6.27.

Itau Unibanco 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.