New York State Common Retirement Fund Buys 1,619,059 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

New York State Common Retirement Fund boosted its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 37.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,906,250 shares of the bank's stock after buying an additional 1,619,059 shares during the quarter. New York State Common Retirement Fund owned approximately 0.05% of Itau Unibanco worth $32,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITUB. Peapack Gladstone Financial Corp lifted its position in shares of Itau Unibanco by 13.4% during the 4th quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock worth $84,000 after purchasing an additional 2,000 shares during the last quarter. Union Bancaire Privee UBP SA lifted its position in shares of Itau Unibanco by 10.0% during the 1st quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock worth $121,000 after purchasing an additional 2,000 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Itau Unibanco by 4.1% during the 1st quarter. Cerity Partners LLC now owns 68,922 shares of the bank's stock worth $379,000 after purchasing an additional 2,694 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in Itau Unibanco by 26.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 14,465 shares of the bank's stock valued at $80,000 after acquiring an additional 3,050 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Itau Unibanco by 24.4% in the fourth quarter. Quadrant Capital Group LLC now owns 20,798 shares of the bank's stock valued at $103,000 after acquiring an additional 4,083 shares during the last quarter.

Analysts Set New Price Targets

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a research note on Thursday, July 10th.

Itau Unibanco Stock Performance

NYSE:ITUB traded down $0.11 during mid-day trading on Friday, hitting $6.35. The stock had a trading volume of 17,558,414 shares, compared to its average volume of 26,496,404. The stock has a market capitalization of $68.41 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 0.98 and a beta of 0.76. The company has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $5.79. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $6.95. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $7.93 billion for the quarter, compared to analysts' expectations of $43.07 billion. Itau Unibanco had a net margin of 11.85% and a return on equity of 19.35%. On average, research analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $0.0024 dividend. This represents a dividend yield of 0.43%. The ex-dividend date is Wednesday, July 2nd. Itau Unibanco's payout ratio is 4.23%.

Itau Unibanco 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.