State of New Jersey Common Pension Fund D Purchases 284,056 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in Itau Unibanco Holding S.A. by 10.0% in Q1, owning 3,124,628 shares valued at $17.19 million.
• Itau Unibanco's most recent earnings report showed an EPS of $0.18, aligning with analyst expectations, while total revenue was $7.14 billion.
• The bank announced a dividend yield of 43.0%, paying shareholders $0.0024 per share, despite a low dividend payout ratio of 4.23%.

State of New Jersey Common Pension Fund D boosted its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,124,628 shares of the bank's stock after acquiring an additional 284,056 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Itau Unibanco were worth $17,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its position in Itau Unibanco by 707.1% in the first quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after acquiring an additional 6,781 shares in the last quarter. Alta Capital Management LLC bought a new stake in Itau Unibanco in the first quarter worth about $62,000. Waverly Advisors LLC bought a new stake in Itau Unibanco in the fourth quarter worth about $67,000. Tuttle Capital Management LLC bought a new stake in Itau Unibanco in the first quarter worth about $67,000. Finally, Avantax Advisory Services Inc. raised its position in Itau Unibanco by 21.6% in the first quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank's stock worth $76,000 after acquiring an additional 2,468 shares in the last quarter.

Itau Unibanco Trading Up 3.3%

ITUB traded up $0.2170 during trading on Friday, reaching $6.8570. The company had a trading volume of 22,261,821 shares, compared to its average volume of 28,575,883. The firm's 50-day simple moving average is $6.61 and its 200 day simple moving average is $6.09. The company has a market cap of $73.92 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.01 and a beta of 0.74. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%.The firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $44.75 billion. Equities research analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current 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 paid a dividend of $0.0024 per share. This represents a yield of 43.0%. The ex-dividend date of this dividend was Wednesday, July 2nd. Itau Unibanco's payout ratio is 33.80%.

Wall Street Analysts Forecast Growth

Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $6.27.

About Itau Unibanco

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.