Nykredit A S Makes New Investment in Itau Unibanco Holding S.A. $ITUB

Key Points

• Nykredit A/S acquired 766,652 shares of Itaú Unibanco in the second quarter, valued at approximately $6.3 million, while several other institutional investors also initiated or increased positions.
• Analysts maintain a generally positive view, with an average “Moderate Buy” rating and a $10.00 price target; JPMorgan raised its target from $9.00 to $10.00.
• Itaú Unibanco’s latest quarterly results slightly missed expectations, reporting $0.21 in EPS versus $0.22 expected and $9.27 billion in revenue versus $9.29 billion forecast. The stock recently traded at $8.15, within a 12-month range of $6.54 to $9.60.

Nykredit A S acquired a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 766,652 shares of the bank's stock, valued at approximately $6,264,000.

A number of other large investors have also added to or reduced their stakes in ITUB. Kestra Advisory Services LLC bought a new position in shares of Itau Unibanco during the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC raised its position in shares of Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock worth $47,000 after acquiring an additional 5,355 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Itau Unibanco in the first quarter valued at approximately $59,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Itau Unibanco by 486.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank's stock valued at $66,000 after acquiring an additional 7,436 shares during the period. Finally, Syon Capital LLC acquired a new position in shares of Itau Unibanco during the fourth quarter valued at about $72,000.

Insider Transactions at Itau Unibanco

In other news, insider Vanzo Orestes sold 60,000 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares in the company, valued at $8,306,035.36. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ITUB. JPMorgan Chase & Co. upped their target price on Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Weiss Ratings cut shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.00.

Itau Unibanco Stock Performance

Shares of ITUB stock opened at $8.15 on Monday. The stock has a market capitalization of $90.27 billion, a P/E ratio of 10.66, a PEG ratio of 0.88 and a beta of 0.56. The firm's 50 day moving average is $8.02 and its 200 day moving average is $8.23. Itau Unibanco Holding S.A. has a 12 month low of $6.54 and a 12 month high of $9.60. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. On average, sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

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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