UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 127,417 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• UBS Asset Management increased its Itau Unibanco stake by 552.4% in the second quarter, acquiring 127,417 shares and bringing its holdings to 150,483 shares valued at approximately $1.23 million.
• Insider Vanzo Orestes sold 74,643 shares for about $625,500, reducing his ownership by 7.4%; corporate insiders now hold 0.61% of the stock.
• ITUB shares opened at $8.32, while analysts maintain a “Moderate Buy” consensus and a $10.00 target price. The bank slightly missed quarterly earnings expectations, reporting $0.21 in EPS versus the $0.22 consensus.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 552.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,483 shares of the bank's stock after acquiring an additional 127,417 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Itau Unibanco were worth $1,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of Itau Unibanco during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 5,355 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Itau Unibanco in the first quarter valued at approximately $59,000. Caitong International Asset Management Co. Ltd grew its holdings in Itau Unibanco by 486.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank's stock valued at $66,000 after purchasing an additional 7,436 shares during the period. Finally, Syon Capital LLC bought a new position in Itau Unibanco during the fourth quarter valued at $72,000.

Insider Activity

In other news, insider Vanzo Orestes sold 74,643 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total value of $625,508.34. Following the completion of the transaction, the insider directly owned 933,371 shares of the company's stock, valued at $7,821,648.98. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Itau Unibanco Stock Performance

Shares of ITUB stock opened at $8.32 on Friday. The stock has a market capitalization of $92.20 billion, a P/E ratio of 10.89, a PEG ratio of 1.04 and a beta of 0.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. The firm's 50 day moving average is $8.02 and its 200 day moving average is $8.20. Itau Unibanco Holding S.A. has a 12 month low of $6.54 and a 12 month high of $9.60.

Itau Unibanco (NYSE:ITUB - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.29 billion. On average, sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ITUB. JPMorgan Chase & Co. boosted their target price 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 downgraded Itau Unibanco from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Itau Unibanco Profile

Itaú Unibanco Holding SA is one of Brazil's largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.

The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.

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