Pzena Investment Management LLC cut its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 44.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,157 shares of the bank's stock after selling 183,738 shares during the period. Pzena Investment Management LLC's holdings in Itau Unibanco were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. 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. Farther Finance Advisors LLC raised its position in shares of 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 acquiring an additional 1,901 shares in the last quarter. Community Bank N.A. bought a new position in shares of Itau Unibanco in the 3rd quarter worth about $57,000. Caitong International Asset Management Co. Ltd raised its position in shares of 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 acquiring an additional 7,436 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Itau Unibanco in the 4th quarter worth about $70,000.
Analyst Upgrades and Downgrades
Several analysts have recently commented on ITUB shares. JPMorgan Chase & Co. raised their target price on Itau Unibanco from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Zacks Research downgraded Itau Unibanco from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.00.
Read Our Latest Analysis on ITUB
Itau Unibanco Stock Performance
Shares of ITUB opened at $7.82 on Friday. 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 stock has a 50-day moving average of $8.43 and a 200-day moving average of $8.08. The company has a market cap of $86.56 billion, a PE ratio of 10.72, a P/E/G ratio of 0.87 and a beta of 0.63. Itau Unibanco Holding S.A. has a one year low of $5.93 and a one year high of $9.60.
Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $9.01 billion during the quarter, compared to analyst estimates of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 26.50%. On average, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.88 EPS for the current fiscal year.
Itau Unibanco Dividend Announcement
The business also recently declared a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.068 per share. The ex-dividend date is Monday, March 23rd. Itau Unibanco's payout ratio is 4.11%.
Insider Transactions at Itau Unibanco
In other Itau Unibanco news, insider Fajerman Sergio Guillinet sold 50,000 shares of Itau Unibanco stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $9.38, for a total transaction of $469,000.00. Following the completion of the transaction, the insider owned 1,265,119 shares in the company, valued at approximately $11,866,816.22. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total value of $1,612,296.00. Following the transaction, the insider owned 1,637,511 shares of the company's stock, valued at $14,442,847.02. This trade represents a 10.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 292,277 shares of company stock valued at $2,646,512 in the last quarter. Company insiders own 0.61% of the company's stock.
About Itau Unibanco
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report).
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