Vanguard Group Inc. Buys 1,549,003 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• Vanguard Group Inc. increased its holdings in Itau Unibanco by 6.7% during Q1, now owning 24,592,740 shares valued at approximately $135.26 million.
• Itau Unibanco reported a return on equity of 19.48% and a net margin of 14.05% for the last quarter, with an earnings per share (EPS) of $0.18.
• The bank has declared a modest dividend of $0.0024 per share, representing a high yield of 43%, despite a debt-to-equity ratio of 2.39.

Vanguard Group Inc. boosted its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,592,740 shares of the bank's stock after purchasing an additional 1,549,003 shares during the period. Vanguard Group Inc. owned about 0.23% of Itau Unibanco worth $135,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITUB. Raymond James Financial Inc. bought a new stake in Itau Unibanco during the fourth quarter worth $1,918,000. Guggenheim Capital LLC lifted its stake in Itau Unibanco by 44.6% during the fourth quarter. Guggenheim Capital LLC now owns 62,425 shares of the bank's stock worth $310,000 after purchasing an additional 19,245 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Itau Unibanco by 25.5% during the fourth quarter. NewEdge Advisors LLC now owns 67,452 shares of the bank's stock worth $335,000 after purchasing an additional 13,686 shares during the last quarter. First Trust Advisors LP bought a new stake in Itau Unibanco during the fourth quarter worth $367,000. Finally, Dimensional Fund Advisors LP lifted its stake in Itau Unibanco by 27.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 452,035 shares of the bank's stock worth $2,242,000 after purchasing an additional 98,591 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Itau Unibanco Price Performance

Shares of NYSE:ITUB traded up $0.16 during trading on Wednesday, hitting $6.96. 38,425,304 shares of the company were exchanged, compared to its average volume of 30,283,322. The business's 50 day moving average is $6.62 and its 200-day moving average is $6.14. The company has a market capitalization of $74.98 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. Itau Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $7.13.

Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. Equities analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be issued a $0.0026 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Itau Unibanco's previous dividend of $0.00. This represents a yield of 45.0%. Itau Unibanco's dividend payout ratio (DPR) is currently 33.80%.

Itau Unibanco Company 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.