Naviter Wealth LLC Purchases New Stake in Itau Unibanco Holding S.A. $ITUB

Key Points

• Naviter Wealth LLC has acquired a new stake in Itau Unibanco Holding S.A., purchasing 67,899 shares valued at approximately $462,000 in the second quarter.
• Several institutional investors, including Farther Finance Advisors LLC and GAMMA Investing LLC, have also increased their stakes in Itau Unibanco significantly.
• Analysts have mixed ratings on the stock, with Zacks Research upgrading their rating to “strong-buy”, while the average target price for shares stands at $6.27.

Naviter Wealth LLC purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,899 shares of the bank's stock, valued at approximately $462,000.

Several other institutional investors have also recently added to or reduced their stakes in ITUB. Farther Finance Advisors LLC raised its holdings in Itau Unibanco by 3,590.6% in the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank's stock valued at $29,000 after acquiring an additional 4,201 shares in the last quarter. Alta Capital Management LLC acquired a new stake in Itau Unibanco in the first quarter valued at $62,000. Ieq Capital LLC acquired a new stake in shares of Itau Unibanco during the first quarter worth $64,000. GAMMA Investing LLC raised its holdings in shares of Itau Unibanco by 114.8% during the second quarter. GAMMA Investing LLC now owns 9,667 shares of the bank's stock worth $66,000 after purchasing an additional 5,167 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Itau Unibanco by 31.7% during the second quarter. Parallel Advisors LLC now owns 10,195 shares of the bank's stock worth $69,000 after purchasing an additional 2,455 shares during the period.

Analyst Ratings Changes

ITUB has been the topic of a number of research reports. UBS Group reissued a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of Itau Unibanco in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Itau Unibanco from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco presently has an average rating of "Buy" and an average target price of $6.27.

Itau Unibanco Stock Down 0.2%

Itau Unibanco stock opened at $6.86 on Wednesday. The company has a 50-day simple moving average of $7.03 and a 200-day simple moving average of $6.56. The firm has a market capitalization of $73.90 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.02 and a beta of 0.84. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. Itau Unibanco Holding S.A. has a one year low of $4.42 and a one year high of $7.45.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. As a group, equities analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 8th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.0454 per share. This is an increase from Itau Unibanco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date was Wednesday, August 20th. Itau Unibanco's payout ratio is currently 4.23%.

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.

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