Public Employees Retirement System of Ohio Sells 2,464,932 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• Public Employees Retirement System of Ohio cut its stake in Itaú Unibanco by 39.2% in the first quarter, selling 2.46 million shares and leaving it with 3.82 million shares worth about $32.0 million.
• Itaú Unibanco’s latest earnings missed expectations, reporting EPS of $0.20 versus the $0.22 consensus and revenue of $9.01 billion versus $9.41 billion expected.
• Analysts remain moderately positive on ITUB, with JPMorgan raising its price target to $10 and the stock carrying a consensus “Moderate Buy” rating; the company also announced a special dividend of $0.068 per share.

Public Employees Retirement System of Ohio trimmed its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 39.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,818,022 shares of the bank's stock after selling 2,464,932 shares during the period. Public Employees Retirement System of Ohio's holdings in Itau Unibanco were worth $31,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 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 boosted its position in shares of Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock valued at $47,000 after buying an additional 5,355 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Itau Unibanco by 40.1% in the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank's stock worth $48,000 after buying an additional 1,901 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Itau Unibanco in the 1st quarter worth about $59,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Itau Unibanco by 486.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank's stock worth $66,000 after buying an additional 7,436 shares during the last quarter.

Itau Unibanco Price Performance

NYSE ITUB opened at $8.29 on Friday. The stock has a market capitalization of $91.77 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.90 and a beta of 0.58. Itau Unibanco Holding S.A. has a 1-year low of $5.93 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. The business's fifty day moving average price is $8.03 and its 200-day moving average price is $8.32.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%.The firm had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. On average, equities analysts predict that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.068 per share. The ex-dividend date is Monday, June 22nd. Itau Unibanco's payout ratio is currently 4.11%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ITUB shares. JPMorgan Chase & Co. upped their target price on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

Insider Activity

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the sale, 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 SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Itau Unibanco Company 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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