Itau Unibanco Holding S.A. $ITUB Stock Holdings Boosted by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Itaú Unibanco position by 6.8% in the second quarter, adding 223,846 shares for a total holding of 3.54 million shares valued at approximately $28.9 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $10 price target; JPMorgan recently raised its target from $9 to $10.
• Itaú Unibanco slightly missed quarterly expectations, reporting $0.21 in EPS versus $0.22 expected and $9.27 billion in revenue versus $9.29 billion projected. An insider also sold 60,000 shares at an average price of $8.24.

First Eagle Investment Management LLC boosted its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,536,156 shares of the bank's stock after purchasing an additional 223,846 shares during the quarter. First Eagle Investment Management LLC's holdings in Itau Unibanco were worth $28,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank increased its stake in shares of Itau Unibanco by 11.1% in the fourth quarter. Huntington National Bank now owns 10,895 shares of the bank's stock valued at $78,000 after purchasing an additional 1,092 shares during the period. Gould Asset Management LLC CA boosted its position in shares of Itau Unibanco by 3.0% during the fourth quarter. Gould Asset Management LLC CA now owns 40,777 shares of the bank's stock worth $292,000 after buying an additional 1,187 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Itau Unibanco by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank's stock worth $79,000 after buying an additional 1,306 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of Itau Unibanco by 3.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 46,666 shares of the bank's stock worth $334,000 after buying an additional 1,357 shares during the period. Finally, Stephens Inc. AR grew its holdings in Itau Unibanco by 3.7% in the 1st quarter. Stephens Inc. AR now owns 40,445 shares of the bank's stock worth $339,000 after buying an additional 1,433 shares in the last quarter.

Insider Buying and Selling

In other Itau Unibanco news, insider Vanzo Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares of the company's stock, valued at approximately $8,306,035.36. This trade represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ITUB has been the topic of several analyst reports. Weiss Ratings cut Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Itau Unibanco Price Performance

Itau Unibanco stock opened at $8.15 on Monday. Itau Unibanco Holding S.A. has a 52 week low of $6.54 and a 52 week high of $9.60. The stock has a market cap of $90.27 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.88 and a beta of 0.56. The company's 50-day moving average price is $8.02 and its two-hundred day moving average price is $8.23. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. On average, analysts expect that Itau Unibanco Holding S.A. will post 0.88 EPS for the current fiscal year.

About Itau Unibanco

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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