Hsbc Holdings PLC cut its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,423,212 shares of the bank's stock after selling 156,523 shares during the period. Hsbc Holdings PLC owned 0.06% of Itau Unibanco worth $52,460,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ITUB. Orbis Allan Gray Ltd increased its position in Itau Unibanco by 104.3% during the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank's stock worth $574,053,000 after buying an additional 43,153,787 shares during the period. Viking Global Investors LP acquired a new stake in shares of Itau Unibanco during the fourth quarter worth $203,319,000. Samlyn Capital LLC bought a new stake in shares of Itau Unibanco in the third quarter valued at about $99,388,000. Bank of America Corp DE boosted its position in shares of Itau Unibanco by 111.9% in the second quarter. Bank of America Corp DE now owns 22,293,618 shares of the bank's stock valued at $182,139,000 after acquiring an additional 11,771,394 shares during the period. Finally, Boston Partners grew its stake in shares of Itau Unibanco by 1,667.7% in the third quarter. Boston Partners now owns 12,413,727 shares of the bank's stock valued at $91,117,000 after acquiring an additional 11,711,487 shares in the last quarter.
Itau Unibanco Price Performance
Itau Unibanco stock opened at $8.15 on Tuesday. The firm has a market cap of $90.27 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. The stock's fifty day moving average price is $8.02 and its two-hundred day moving average price is $8.22. Itau Unibanco Holding S.A. has a one year low of $6.54 and a one year high of $9.60.
Itau Unibanco (NYSE:ITUB - Get Free Report) last released its earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. As a group, research analysts expect that Itau Unibanco Holding S.A. will post 0.88 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Vanzo Orestes sold 60,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the transaction, the insider owned 1,008,014 shares of the company's stock, valued at $8,306,035.36. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts recently commented on ITUB shares. JPMorgan Chase & Co. raised their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.00.
Check Out Our Latest Stock Analysis on Itau Unibanco
About Itau Unibanco
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report).
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