SPX Gestao de Recursos Ltda purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 479,169 shares of the bank's stock, valued at approximately $3,915,000.
A number of other institutional investors have also recently modified their holdings of the business. Kestra Advisory Services LLC acquired a new position in Itau Unibanco during the fourth quarter worth $31,000. Farther Finance Advisors LLC lifted its holdings in Itau Unibanco by 40.1% in the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank's stock valued at $48,000 after acquiring an additional 1,901 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 5,355 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Itau Unibanco during the 1st quarter worth $59,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Itau Unibanco by 486.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank's stock worth $66,000 after purchasing an additional 7,436 shares in the last quarter.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ITUB. Weiss Ratings downgraded shares of Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.00.
Check Out Our Latest Stock Analysis on Itau Unibanco
Insider Buying and Selling at Itau Unibanco
In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the transaction, the insider owned 1,008,014 shares in the company, valued at $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
Itau Unibanco Stock Performance
NYSE ITUB opened at $7.51 on Friday. Itau Unibanco Holding S.A. has a 1-year low of $6.54 and a 1-year high of $9.60. The company has a market capitalization of $83.18 billion, a P/E ratio of 9.82, a PEG ratio of 0.81 and a beta of 0.58. The business has a 50 day moving average price of $8.02 and a 200 day moving average price of $8.29. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08.
Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.29 billion. Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%. Sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.88 EPS for the current fiscal year.
About Itau Unibanco
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report).
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