Ramirez Asset Management Inc. Grows Position in Itau Unibanco Holding S.A. $ITUB

Key Points

• Ramirez Asset Management Inc. increased its stake in Itau Unibanco by 16.5% during Q2, now holding approximately 2,162,787 shares valued at $14.685 million.
• Itau Unibanco recently declared a monthly dividend of $0.0454, a positive change from their previous $0.00, resulting in an annualized dividend yield of 7.9%.
• The company's stock price opened at $6.93, with a market capitalization of $74.71 billion and an analyst consensus rating of "Moderate Buy".

Ramirez Asset Management Inc. grew its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 16.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,162,787 shares of the bank's stock after purchasing an additional 306,070 shares during the quarter. Itau Unibanco makes up approximately 2.2% of Ramirez Asset Management Inc.'s portfolio, making the stock its 3rd largest holding. Ramirez Asset Management Inc.'s holdings in Itau Unibanco were worth $14,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Fielder Capital Group LLC boosted its stake in Itau Unibanco by 10.0% during the first quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank's stock worth $103,000 after buying an additional 1,710 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in Itau Unibanco by 10.7% during the first quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank's stock worth $110,000 after buying an additional 1,930 shares in the last quarter. Union Bancaire Privee UBP SA boosted its stake in Itau Unibanco by 10.0% during the first quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock worth $121,000 after buying an additional 2,000 shares in the last quarter. Hamilton Capital LLC boosted its stake in Itau Unibanco by 15.5% during the first quarter. Hamilton Capital LLC now owns 16,081 shares of the bank's stock worth $88,000 after buying an additional 2,163 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Itau Unibanco by 31.7% during the second quarter. Parallel Advisors LLC now owns 10,195 shares of the bank's stock worth $69,000 after buying an additional 2,455 shares in the last quarter.

Itau Unibanco Stock Down 0.4%

Shares of NYSE:ITUB opened at $6.93 on Friday. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. The company's fifty day moving average is $7.00 and its 200-day moving average is $6.52. The company has a market capitalization of $74.71 billion, a PE ratio of 9.82, a P/E/G ratio of 1.03 and a beta of 0.84.

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

Itau Unibanco Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 8th. Investors of record on Wednesday, August 20th were issued a $0.0454 dividend. This is a positive change from Itau Unibanco's previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Itau Unibanco's dividend payout ratio (DPR) is presently 4.23%.

Analyst Upgrades and Downgrades

ITUB has been the topic of several recent analyst reports. UBS Group restated a "neutral" rating on shares of Itau Unibanco in a research note on Thursday, July 10th. Weiss Ratings restated a "hold (c+)" rating on shares of Itau Unibanco in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.27.

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.

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