Quadrant Capital Group LLC Has $2.34 Million Stock Position in Itau Unibanco Holding S.A. $ITUB

Key Points

• Quadrant Capital Group LLC increased its stake in Itau Unibanco by 1,413.2% in Q3, buying an additional 297,738 shares to hold 318,807 shares worth about $2.34 million at quarter-end.
• Itau Unibanco's most recent quarter showed a small EPS miss (reported $0.17 vs. $0.20 expected) and revenue of $8.62B (vs. $8.98B expected), though the bank reported a strong ROE of 20.83% and a net margin of 20.64%.
• The company declared a special dividend of $0.068 (record/ex-dividend date listed as March 23) and analysts have become more positive, lifting the consensus target to about $9.00 with an overall "Buy" rating.

Quadrant Capital Group LLC boosted its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 1,413.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,807 shares of the bank's stock after purchasing an additional 297,738 shares during the period. Quadrant Capital Group LLC's holdings in Itau Unibanco were worth $2,340,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. MAI Capital Management acquired a new position in shares of Itau Unibanco during the 2nd quarter worth $41,000. EverSource Wealth Advisors LLC boosted its stake in 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 buying an additional 5,355 shares in the last quarter. First Horizon Corp acquired a new stake in Itau Unibanco in the third quarter valued at about $60,000. Park Avenue Securities LLC grew its position in Itau Unibanco by 17.5% in the third quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank's stock valued at $88,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new position in Itau Unibanco in the third quarter valued at about $90,000.

Itau Unibanco Trading Down 0.2%

Shares of ITUB stock opened at $8.46 on Thursday. Itau Unibanco Holding S.A. has a twelve month low of $4.92 and a twelve month high of $9.60. The stock's fifty day simple moving average is $8.43 and its 200 day simple moving average is $7.54. The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $93.71 billion, a P/E ratio of 12.02, a P/E/G ratio of 0.93 and a beta of 0.63.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.98 billion. Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%. As a group, sell-side analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, March 23rd will be paid a $0.068 dividend. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco's dividend payout ratio is currently 4.29%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Zacks Research raised shares of Itau Unibanco from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Itau Unibanco in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $9.00.

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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