Itau Unibanco Holding S.A. $ITUB Shares Purchased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Itau Unibanco by 203.6% in Q1, acquiring an additional 55,500 shares to reach a total of 82,764 shares valued at $455,000.
• Itau Unibanco's stock has received varied analyst ratings, with one analyst giving it a Strong Buy rating, while the average rating remains at Buy with a consensus price target of $6.27.
• The company reported earnings of $0.18 per share for the recent quarter, meeting analyst expectations, and plans to pay a modest dividend yield of 43.0%.

Vestmark Advisory Solutions Inc. raised its position in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 203.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,764 shares of the bank's stock after acquiring an additional 55,500 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Itau Unibanco were worth $455,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Fielder Capital Group LLC lifted its stake in Itau Unibanco by 10.0% in the first quarter. Fielder Capital Group LLC now owns 18,816 shares of the bank's stock worth $103,000 after acquiring an additional 1,710 shares during the last quarter. Union Bancaire Privee UBP SA lifted its stake in Itau Unibanco by 10.0% in the first quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank's stock worth $121,000 after acquiring an additional 2,000 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake 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 during the last quarter. Ameraudi Asset Management Inc. lifted its stake in Itau Unibanco by 10.0% in the first quarter. Ameraudi Asset Management Inc. now owns 27,665 shares of the bank's stock worth $152,000 after acquiring an additional 2,515 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Itau Unibanco by 4.1% in the first quarter. Cerity Partners LLC now owns 68,922 shares of the bank's stock worth $379,000 after acquiring an additional 2,694 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Itau Unibanco Stock Up 3.5%

Shares of NYSE:ITUB traded up $0.2350 during trading on Friday, hitting $6.8750. 34,097,072 shares of the company were exchanged, compared to its average volume of 29,792,688. The stock has a market capitalization of $74.12 billion, a P/E ratio of 9.75, a PEG ratio of 1.01 and a beta of 0.74. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.13. The firm's 50 day moving average price is $6.62 and its 200-day moving average price is $6.10.

Itau Unibanco (NYSE:ITUB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business 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%. On average, research analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.0024 per share. This represents a dividend yield of 43.0%. The ex-dividend date was Wednesday, July 2nd. Itau Unibanco's payout ratio is currently 33.80%.

Itau Unibanco 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.