Robeco Institutional Asset Management B.V. Sells 4,385,231 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• Robeco Institutional Asset Management reduced its Itau Unibanco stake by 9.6%, selling 4.39 million shares and retaining 41.25 million shares worth approximately $351.9 million.
• Analyst sentiment remains broadly positive: Itau Unibanco has a “Moderate Buy” consensus rating and a $9.87 average price target, with Goldman Sachs and JPMorgan recently raising their targets.
• ITUB opened at $9.72, near its 52-week high of $10.20. The bank slightly missed quarterly earnings expectations, reporting $0.21 EPS versus the $0.22 consensus, while maintaining a 21.4% return on equity and 26.4% net margin.

Robeco Institutional Asset Management B.V. lessened its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 9.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,249,992 shares of the bank's stock after selling 4,385,231 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.37% of Itau Unibanco worth $351,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Itau Unibanco in the 1st quarter valued at $59,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Itau Unibanco by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank's stock valued at $79,000 after acquiring an additional 1,306 shares in the last quarter. Resonant Capital Advisors LLC acquired a new stake in shares of Itau Unibanco during the 1st quarter valued at $89,000. Farther Finance Advisors LLC grew its position in Itau Unibanco by 39.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 12,892 shares of the bank's stock worth $110,000 after acquiring an additional 3,661 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Itau Unibanco by 8.6% during the 3rd quarter. GAMMA Investing LLC now owns 13,069 shares of the bank's stock worth $111,000 after acquiring an additional 1,031 shares during the last quarter.

Insider Transactions at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Orestes sold 74,643 shares of Itau Unibanco stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total transaction of $625,508.34. Following the transaction, the insider directly owned 933,371 shares of the company's stock, valued at approximately $7,821,648.98. The trade was a 7.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ITUB. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $10.50 target price (up from $9.30) on shares of Itau Unibanco in a report on Friday, October 9th. JPMorgan Chase & Co. lifted their price target on Itau Unibanco from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings raised Itau Unibanco from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. HSBC cut Itau Unibanco from a "buy" rating to a "hold" rating and set a $9.10 price target on the stock. in a report on Thursday, October 8th. Finally, Wall Street Zen raised Itau Unibanco to a "hold" rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Itau Unibanco presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.87.

Itau Unibanco Price Performance

ITUB stock opened at $9.72 on Wednesday. The company has a fifty day moving average price of $8.39 and a 200-day moving average price of $8.31. The company has a market capitalization of $107.62 billion, a P/E ratio of 12.34, a PEG ratio of 1.17 and a beta of 0.50. Itau Unibanco Holding S.A. has a 52-week low of $6.80 and a 52-week high of $10.20. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. The business had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.29 billion. As a group, equities analysts expect that Itau Unibanco Holding S.A. will post 0.88 EPS for the current year.

About Itau Unibanco

Itaú Unibanco Holding SA is a financial services company headquartered in São Paulo, Brazil, and one of the largest banking groups in Latin America. The company provides banking and financial products to individuals, small and midsize businesses, large corporations and institutional clients through digital channels and a network of branches and service locations.

Its offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit cards, insurance, investment products, asset management, foreign exchange and payment services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.