Itau Unibanco Holding S.A. (NYSE:ITUB) Stock Holdings Lifted by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. has increased its stake in Itau Unibanco by 44.7%, acquiring an additional 573,820 shares, bringing its total holdings to 1,856,717 shares valued at over $10 million.
• Other major investors, including FMR LLC and Bank of America Corp DE, have significantly boosted their positions in Itau Unibanco, indicating a general trend of increased institutional interest in the stock.
• Itau Unibanco has recently revealed plans to pay a dividend of $0.0024 per share, representing a yield of 0.43% and a low payout ratio of 4.23%.

Ramirez Asset Management Inc. raised its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 44.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,856,717 shares of the bank's stock after buying an additional 573,820 shares during the quarter. Itau Unibanco comprises 2.1% of Ramirez Asset Management Inc.'s portfolio, making the stock its 6th biggest holding. Ramirez Asset Management Inc.'s holdings in Itau Unibanco were worth $10,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. purchased a new position in Itau Unibanco during the 4th quarter valued at $35,000. Parallel Advisors LLC boosted its holdings in Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock valued at $43,000 after acquiring an additional 6,781 shares during the period. Alta Capital Management LLC bought a new stake in Itau Unibanco during the 1st quarter valued at $62,000. Sagespring Wealth Partners LLC bought a new stake in Itau Unibanco during the 4th quarter valued at $67,000. Finally, Waverly Advisors LLC bought a new stake in Itau Unibanco during the 4th quarter valued at $67,000.

Analyst Ratings Changes

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

Itau Unibanco Stock Up 0.7%

NYSE ITUB traded up $0.05 on Friday, reaching $6.32. 16,818,989 shares of the stock traded hands, compared to its average volume of 28,285,531. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.74 and a current ratio of 1.74. The company has a fifty day moving average price of $6.56 and a 200-day moving average price of $5.91. The company has a market cap of $68.08 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.97 and a beta of 0.76. Itau Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $6.95.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The bank reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $7.93 billion during the quarter, compared to analyst estimates of $43.07 billion. Itau Unibanco had a return on equity of 19.35% and a net margin of 11.85%. As a group, research analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $0.0024 dividend. This represents a dividend yield of 43.0%. The ex-dividend date of this dividend is Wednesday, July 2nd. Itau Unibanco's payout ratio is presently 4.23%.

Itau Unibanco 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.