Mackenzie Financial Corp Has $987,000 Stake in Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Mackenzie Financial Corp reduced its stake in Itau Unibanco Holding S.A. by 20.1%, owning 179,521 shares after selling 45,220 shares in the 1st quarter, valued at approximately $987,000.
• UBS Group has reaffirmed a "neutral" rating on the shares of Itau Unibanco, indicating a cautious outlook on the stock's performance.
• The company recently announced a dividend of $0.0024 per share with a yield of 43.0%, to be paid on August 8th to investors recorded on July 3rd.

Mackenzie Financial Corp decreased its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,521 shares of the bank's stock after selling 45,220 shares during the period. Mackenzie Financial Corp's holdings in Itau Unibanco were worth $987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITUB. Ameraudi Asset Management Inc. increased its holdings in shares of Itau Unibanco by 10.0% during the 1st quarter. Ameraudi Asset Management Inc. now owns 27,665 shares of the bank's stock worth $152,000 after purchasing an additional 2,515 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Itau Unibanco by 10.1% during the 1st quarter. Baillie Gifford & Co. now owns 10,215,409 shares of the bank's stock worth $56,185,000 after purchasing an additional 934,823 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Itau Unibanco by 21.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank's stock worth $76,000 after purchasing an additional 2,468 shares during the period. Wealth Alliance LLC increased its holdings in shares of Itau Unibanco by 24.7% during the 1st quarter. Wealth Alliance LLC now owns 68,777 shares of the bank's stock worth $378,000 after purchasing an additional 13,601 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Itau Unibanco by 10.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 3,439,139 shares of the bank's stock worth $18,915,000 after purchasing an additional 312,649 shares during the period.

Analysts Set New Price Targets

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

Itau Unibanco Price Performance

NYSE ITUB traded up $0.02 on Friday, reaching $6.85. The company's stock had a trading volume of 28,042,752 shares, compared to its average volume of 29,978,540. The firm has a market cap of $73.85 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.05 and a beta of 0.74. The business has a 50-day moving average price of $6.55 and a 200 day moving average price of $5.99. 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 1.59, a quick ratio of 1.74 and a debt-to-equity ratio of 2.39.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm 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%. Sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Cuts Dividend

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