Hsbc Holdings PLC Has $35.56 Million Holdings in Itau Unibanco Holding S.A. $ITUB

Key Points

• HSBC Holdings PLC increased its stake in Itaú Unibanco by 2.7% in the fourth quarter, ending with 4.97 million shares valued at about $35.56 million.
• Several analysts remain constructive on ITUB, with JPMorgan lifting its price target to $10 and the stock carrying a consensus Moderate Buy rating.
• The bank posted mixed recent results: its latest quarterly EPS and revenue both missed estimates, though it continues to generate solid profitability and recently announced a special dividend of $0.068 per share.

Hsbc Holdings PLC grew its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,968,641 shares of the bank's stock after acquiring an additional 130,998 shares during the period. Hsbc Holdings PLC's holdings in Itau Unibanco were worth $35,557,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its holdings in Itau Unibanco by 498.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 40,594 shares of the bank's stock worth $291,000 after purchasing an additional 33,816 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Itau Unibanco by 35.0% in the fourth quarter. Corient Private Wealth LLC now owns 55,542 shares of the bank's stock valued at $398,000 after buying an additional 14,411 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Itau Unibanco by 376.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 42,738 shares of the bank's stock valued at $306,000 after buying an additional 33,772 shares during the period. Groupama Asset Managment raised its holdings in Itau Unibanco by 4.7% in the 4th quarter. Groupama Asset Managment now owns 138,201 shares of the bank's stock valued at $990,000 after buying an additional 6,245 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Itau Unibanco by 29.7% during the 4th quarter. Invesco Ltd. now owns 631,043 shares of the bank's stock worth $4,518,000 after buying an additional 144,686 shares during the period.

Insiders Place Their Bets

In other Itau Unibanco news, insider Fajerman Sergio Guillinet sold 50,000 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $9.38, for a total transaction of $469,000.00. Following the completion of the sale, the insider directly owned 1,265,119 shares in the company, valued at approximately $11,866,816.22. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total value of $1,612,296.00. Following the completion of the transaction, the insider directly owned 1,637,511 shares of the company's stock, valued at approximately $14,442,847.02. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 292,277 shares of company stock valued at $2,646,512 in the last three months. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ITUB shares. JPMorgan Chase & Co. upped their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Tuesday. Weiss Ratings restated a "buy (b)" rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Finally, Zacks Research lowered Itau Unibanco from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 13th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Itau Unibanco has a consensus rating of "Moderate Buy" and an average price target of $10.00.

Itau Unibanco Stock Performance

NYSE:ITUB opened at $8.30 on Tuesday. The company has a market capitalization of $91.93 billion, a PE ratio of 11.38, a P/E/G ratio of 0.87 and a beta of 0.58. The company has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $8.19. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.79 and a current ratio of 1.79. Itau Unibanco Holding S.A. has a fifty-two week low of $5.93 and a fifty-two week high of $9.60.

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

Itau Unibanco Announces Dividend

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

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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