Raiffeisen Bank International AG Takes $328,000 Position in Itau Unibanco Holding S.A. (NYSE:ITUB)

Key Points

• Raiffeisen Bank International AG has recently invested approximately $328,000 in Itau Unibanco Holding S.A. by acquiring 59,401 shares during the first quarter.
• Itau Unibanco has experienced increased interest from multiple hedge funds, with several making notable adjustments to their positions, including Fielder Capital Group and Peapack Gladstone Financial Corp.
• The company reported earnings of $0.18 per share for the latest quarter, exceeding analysts' expectations of $0.16, though it experienced a cut in dividend to $0.0024 per share, yielding 43.0%.

Raiffeisen Bank International AG purchased a new stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 59,401 shares of the bank's stock, valued at approximately $328,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in shares of Itau Unibanco by 27.6% in the 4th quarter. LPL Financial LLC now owns 373,234 shares of the bank's stock worth $1,851,000 after buying an additional 80,747 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Itau Unibanco by 30.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 45,818 shares of the bank's stock worth $227,000 after buying an additional 10,741 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Itau Unibanco by 24.4% in the 4th quarter. Quadrant Capital Group LLC now owns 20,798 shares of the bank's stock worth $103,000 after buying an additional 4,083 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of Itau Unibanco by 13.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank's stock worth $84,000 after buying an additional 2,000 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Itau Unibanco by 117.4% in the 4th quarter. FMR LLC now owns 51,044,340 shares of the bank's stock worth $253,180,000 after buying an additional 27,559,997 shares during the last quarter.

Itau Unibanco Stock Performance

Shares of NYSE:ITUB traded up $0.02 during mid-day trading on Friday, reaching $6.85. The company had a trading volume of 28,042,752 shares, compared to its average volume of 29,978,540. The company has a current ratio of 1.59, a quick ratio of 1.74 and a debt-to-equity ratio of 2.39. The firm has a market cap of $73.85 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.06 and a beta of 0.74. The company's 50-day moving average price is $6.55 and its 200-day moving average price is $5.99. Itau Unibanco Holding S.A. has a one year low of $4.42 and a one year high of $6.95.

Itau Unibanco (NYSE:ITUB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The company had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $44.75 billion. As a group, equities research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.0024 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a yield of 43.0%. Itau Unibanco's payout ratio is presently 4.23%.

Wall Street Analyst Weigh In

Separately, UBS Group reaffirmed a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.