Todd Asset Management LLC Purchases 550,396 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Todd Asset Management LLC increased its stake in Itau Unibanco Holding S.A. by 10.5% in Q1, now holding 5,802,840 shares valued at approximately $31.9 million.
• Multiple hedge funds including Bessemer Group and Parallel Advisors LLC also acquired new stakes or significantly increased holdings in Itau Unibanco during the first quarter.
• Itau Unibanco recently declared a dividend of $0.0024 with a yield of 43.0%, reflecting its current dividend payout ratio of 32.39%.

Todd Asset Management LLC lifted its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,802,840 shares of the bank's stock after purchasing an additional 550,396 shares during the quarter. Todd Asset Management LLC owned 0.05% of Itau Unibanco worth $31,916,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. bought a new stake in shares of Itau Unibanco in the fourth quarter worth $35,000. Parallel Advisors LLC increased its holdings in Itau Unibanco by 707.1% during the first quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after buying an additional 6,781 shares during the last quarter. Alta Capital Management LLC acquired a new position in Itau Unibanco during the first quarter worth $62,000. Sagespring Wealth Partners LLC acquired a new position in Itau Unibanco during the fourth quarter worth $67,000. Finally, Waverly Advisors LLC acquired a new position in Itau Unibanco during the fourth quarter worth $67,000.

Itau Unibanco Stock Performance

Shares of NYSE:ITUB traded down $0.03 on Friday, hitting $6.95. The company had a trading volume of 19,279,656 shares, compared to its average volume of 28,632,070. Itau Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $7.13. The stock has a market cap of $74.87 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 1.08 and a beta of 0.74. The stock has a 50 day moving average price of $6.59 and a 200 day moving average price of $6.04. 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 (NYSE:ITUB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $7.14 billion during 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%. Analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a $0.0024 dividend. This represents a dividend yield of 43.0%. The ex-dividend date of this dividend was Wednesday, July 2nd. Itau Unibanco's payout ratio is presently 4.23%.

Wall Street Analysts Forecast Growth

Separately, UBS Group restated a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th.

About Itau Unibanco

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.