Itau Unibanco Holding S.A. $ITUB Shares Bought by Itau Unibanco Holding S.A.

Key Points

• Itau Unibanco Holding S.A. increased its holdings in Itau Unibanco by 22.5% during Q1, now owning over 21 million shares, making it the bank's 4th largest position.
• The company has announced a new dividend of $0.0026 per share, reflecting a yield of 45.0%, up from the previous dividend of $0.00.
• Analysts maintain an average rating of Buy for Itau Unibanco's stock, with a target price of $6.27, while UBS Group reiterated a "neutral" rating.

Itau Unibanco Holding S.A. raised its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,455,970 shares of the bank's stock after purchasing an additional 3,937,238 shares during the period. Itau Unibanco makes up about 4.3% of Itau Unibanco Holding S.A.'s portfolio, making the stock its 4th largest holding. Itau Unibanco Holding S.A. owned approximately 0.20% of Itau Unibanco worth $114,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITUB. GQG Partners LLC lifted its holdings in shares of Itau Unibanco by 738.6% during the 1st quarter. GQG Partners LLC now owns 77,734,889 shares of the bank's stock worth $427,542,000 after acquiring an additional 68,465,514 shares during the period. Bank of America Corp DE lifted its holdings in shares of Itau Unibanco by 311.4% during the 4th quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank's stock worth $126,898,000 after acquiring an additional 19,365,644 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in shares of Itau Unibanco during the 4th quarter worth approximately $71,054,000. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Itau Unibanco by 963.5% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 8,641,277 shares of the bank's stock worth $47,527,000 after acquiring an additional 7,828,744 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Itau Unibanco by 241.2% during the 1st quarter. Ameriprise Financial Inc. now owns 8,221,235 shares of the bank's stock worth $45,219,000 after acquiring an additional 5,811,939 shares during the period.

Itau Unibanco Price Performance

NYSE:ITUB traded up $0.02 on Monday, hitting $7.13. The company had a trading volume of 19,475,315 shares, compared to its average volume of 30,828,438. 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 Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.18. The firm has a 50 day moving average of $6.64 and a two-hundred day moving average of $6.17. The stock has a market capitalization of $76.81 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.08 and a beta of 0.86.

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 (EPS) for the quarter, meeting the consensus estimate of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. On average, research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th will be given a $0.0454 dividend. This is an increase from Itau Unibanco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, August 20th. This represents a c) annualized dividend and a yield of 7.6%. Itau Unibanco's dividend payout ratio is currently 33.80%.

Analyst Ratings Changes

Separately, UBS Group reaffirmed a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $6.27.

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.