Public Employees Retirement System of Ohio Sells 398,510 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• Public Employees Retirement System of Ohio cut its Itaú Unibanco stake by 10.4%, selling 398,510 shares during the second quarter and retaining 3.42 million shares valued at approximately $27.9 million.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and a $10 average price target; JPMorgan raised its target from $9 to $10.
• Itaú Unibanco recently reported $0.21 in quarterly EPS, slightly below the $0.22 estimate, while revenue of $9.27 billion also narrowly missed expectations. Shares opened at $7.51, below the consensus target.

Public Employees Retirement System of Ohio reduced its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,419,512 shares of the bank's stock after selling 398,510 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Itau Unibanco were worth $27,937,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in Itau Unibanco during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its position in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank's stock valued at $47,000 after purchasing an additional 5,355 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Itau Unibanco by 40.1% during 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 during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Itau Unibanco during the 1st quarter worth about $59,000. Finally, Caitong International Asset Management Co. Ltd grew its stake 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 valued at $66,000 after buying an additional 7,436 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on ITUB shares. Weiss Ratings cut shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Itau Unibanco Price Performance

Shares of Itau Unibanco stock opened at $7.51 on Friday. Itau Unibanco Holding S.A. has a twelve month low of $6.54 and a twelve month high of $9.60. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.44. The company has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $8.29. The stock has a market capitalization of $83.18 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.81 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.The business had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.29 billion. Analysts forecast that Itau Unibanco Holding S.A. will post 0.88 EPS for the current year.

Insider Buying and Selling at Itau Unibanco

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the sale, the insider directly owned 1,008,014 shares of the company's stock, valued at approximately $8,306,035.36. This represents a 5.62% decrease in their position. The transaction 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.

About Itau Unibanco

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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