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

Key Points

• Rhumbline Advisers increased its stake in Itau Unibanco by 13.6% in Q1, owning 331,474 shares valued at $1.82 million.
• Itau Unibanco recently declared a monthly dividend of $0.0454, marking a significant increase from its previous dividend of $0.00, with an annualized yield of 7.5%.
• Analysts generally favor Itau Unibanco, with an average rating of "Buy" and a target price of $6.27, alongside unanimous earnings of $0.18 EPS in its latest quarterly results.

Rhumbline Advisers lifted its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 331,474 shares of the bank's stock after purchasing an additional 39,776 shares during the period. Rhumbline Advisers' holdings in Itau Unibanco were worth $1,823,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Itau Unibanco in the first quarter worth approximately $4,959,000. Hamilton Capital LLC raised its position in Itau Unibanco by 15.5% in the 1st quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock valued at $88,000 after purchasing an additional 2,163 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Itau Unibanco by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank's stock valued at $27,482,000 after purchasing an additional 1,107,607 shares during the last quarter. USS Investment Management Ltd raised its position in Itau Unibanco by 10.0% in the 1st quarter. USS Investment Management Ltd now owns 2,778,562 shares of the bank's stock valued at $15,268,000 after purchasing an additional 252,596 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Itau Unibanco by 212.8% in the 1st quarter. AQR Capital Management LLC now owns 2,473,016 shares of the bank's stock valued at $13,602,000 after purchasing an additional 1,682,354 shares during the last quarter.

Analysts Set New Price Targets

Separately, UBS Group restated a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Itau Unibanco has an average rating of "Buy" and a consensus target price of $6.27.

Itau Unibanco Price Performance

Shares of NYSE:ITUB traded up $0.11 on Friday, reaching $7.34. 37,966,224 shares of the company were exchanged, compared to its average volume of 26,954,778. 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 1-year low of $4.42 and a 1-year high of $7.38. The firm has a market cap of $79.13 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.09 and a beta of 0.86. The company has a 50-day moving average of $6.76 and a 200-day moving average of $6.37.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. The business 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 analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, September 8th. Investors of record on Wednesday, August 20th were paid a $0.0454 dividend. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a positive change from Itau Unibanco's previous monthly dividend of $0.00. Itau Unibanco's dividend 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.