Northcape Capital Pty Ltd Sells 4,062,997 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• Northcape Capital reduced its Itau Unibanco stake by 31.4%, selling 4.06 million shares and retaining 8.88 million shares valued at approximately $72.5 million. The stock remains Northcape’s fourth-largest holding.
• Itau Unibanco’s latest quarterly results fell slightly short of expectations, with earnings per share of $0.21 versus a $0.22 estimate and revenue of $9.27 billion versus $9.29 billion expected.
• Shares recently traded at $7.90, while analysts maintain a “Moderate Buy” consensus and an average price target of $10.00. The bank also announced a special dividend of $0.068 per share.

Northcape Capital Pty Ltd trimmed its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 31.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,878,020 shares of the bank's stock after selling 4,062,997 shares during the quarter. Itau Unibanco accounts for 9.8% of Northcape Capital Pty Ltd's holdings, making the stock its 4th largest holding. Northcape Capital Pty Ltd owned about 0.08% of Itau Unibanco worth $72,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. GQG Partners LLC boosted its stake in shares of Itau Unibanco by 6.3% in the 4th quarter. GQG Partners LLC now owns 96,959,405 shares of the bank's stock valued at $694,229,000 after buying an additional 5,737,696 shares during the period. Orbis Allan Gray Ltd raised its holdings in Itau Unibanco by 104.3% in the second quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank's stock valued at $574,053,000 after acquiring an additional 43,153,787 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Itau Unibanco by 3.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 63,525,566 shares of the bank's stock worth $454,843,000 after acquiring an additional 2,394,121 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Itau Unibanco by 5.2% in the fourth quarter. JPMorgan Chase & Co. now owns 43,540,350 shares of the bank's stock worth $311,749,000 after acquiring an additional 2,153,260 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Itau Unibanco by 3.7% during the 4th quarter. Wellington Management Group LLP now owns 42,818,183 shares of the bank's stock worth $306,578,000 after acquiring an additional 1,520,759 shares in the last quarter.

Itau Unibanco Trading Down 0.5%

NYSE ITUB opened at $7.90 on Tuesday. The firm's fifty day moving average is $8.11 and its two-hundred day moving average is $8.40. Itau Unibanco Holding S.A. has a one year low of $6.39 and a one year high of $9.60. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $87.50 billion, a PE ratio of 10.33, a P/E/G ratio of 0.86 and a beta of 0.58.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a return on equity of 22.01% and a net margin of 26.41%. Analysts expect that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco's dividend payout ratio (DPR) is presently 3.95%.

Insiders Place Their Bets

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of Itau Unibanco stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total value of $494,400.00. Following the transaction, the insider directly owned 1,008,014 shares in the company, 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. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings lowered Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Itau Unibanco has an average rating of "Moderate Buy" and an average target price of $10.00.

Itau Unibanco Profile

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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