Walleye Capital LLC Has $99,000 Position in Itau Unibanco Holding S.A. $ITUB

Key Points

• Walleye Capital LLC significantly reduced its position in Itau Unibanco, trimming its stake by 97.7% during the first quarter, leaving them with only 17,987 shares valued at approximately $99,000.
• Despite Walleye Capital's reduction, other institutional investors, such as Parallel Advisors LLC and Alta Capital Management LLC, have increased their stakes, indicating a mixed sentiment among investors.
• Itau Unibanco recently announced a monthly dividend of $0.0454 per share, marking a significant increase from its previous dividend and reflecting a solid annualized yield of 7.7%.

Walleye Capital LLC trimmed its stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 97.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,987 shares of the bank's stock after selling 765,981 shares during the quarter. Walleye Capital LLC's holdings in Itau Unibanco were worth $99,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GQG Partners LLC boosted its stake in shares of Itau Unibanco by 738.6% during the 1st quarter. GQG Partners LLC now owns 77,734,889 shares of the bank's stock worth $427,542,000 after acquiring an additional 68,465,514 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Itau Unibanco by 5.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 41,964,629 shares of the bank's stock worth $230,805,000 after acquiring an additional 2,306,414 shares during the period. Bank of America Corp DE boosted its stake in shares of Itau Unibanco by 311.4% during the 4th quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank's stock worth $126,898,000 after acquiring an additional 19,365,644 shares during the period. Vanguard Group Inc. boosted its stake in shares of Itau Unibanco by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank's stock worth $135,260,000 after acquiring an additional 1,549,003 shares during the period. Finally, Dodge & Cox boosted its stake in shares of Itau Unibanco by 5.2% during the 1st quarter. Dodge & Cox now owns 17,493,415 shares of the bank's stock worth $96,214,000 after acquiring an additional 872,410 shares during the period.

Itau Unibanco Price Performance

NYSE ITUB traded up $0.04 during midday trading on Thursday, hitting $7.08. The company had a trading volume of 33,095,185 shares, compared to its average volume of 25,686,934. The company has a market capitalization of $76.33 billion, a PE ratio of 10.04, a P/E/G ratio of 1.04 and a beta of 0.86. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The firm has a 50-day moving average price of $6.70 and a 200-day moving average price of $6.26. Itau Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $7.23.

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

Itau Unibanco Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were issued a $0.0454 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a boost from Itau Unibanco's previous monthly dividend of $0.00. Itau Unibanco's payout ratio is currently 4.23%.

Analysts Set New Price Targets

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

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.