Wellington Management Group LLP Acquires 1,619,527 Shares of Itau Unibanco Holding S.A. $ITUB

Key Points

• Wellington Management Group LLP increased its stake in Itau Unibanco by 37.7%, owning a total of approximately 5.91 million shares valued at $32.51 million following the acquisition of an additional 1.62 million shares in Q1.
• Itau Unibanco's stock price has seen an increase of 3.5%, currently trading around $6.8750, with a market cap of $74.12 billion.
• The bank recently declared a dividend of $0.0024 per share, resulting in a significant yield of 43.0%, despite a dividend payout ratio of 33.80%.

Wellington Management Group LLP raised its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) by 37.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,911,413 shares of the bank's stock after buying an additional 1,619,527 shares during the period. Wellington Management Group LLP owned 0.05% of Itau Unibanco worth $32,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITUB. Parallel Advisors LLC increased its stake in shares of Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after purchasing an additional 6,781 shares during the last quarter. Alta Capital Management LLC acquired a new position in shares of Itau Unibanco during the 1st quarter worth about $62,000. Waverly Advisors LLC acquired a new position in shares of Itau Unibanco during the 4th quarter worth about $67,000. Tuttle Capital Management LLC acquired a new position in shares of Itau Unibanco during the 1st quarter worth about $67,000. Finally, Avantax Advisory Services Inc. increased its stake in shares of Itau Unibanco by 21.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank's stock worth $76,000 after purchasing an additional 2,468 shares during the last quarter.

Itau Unibanco Stock Performance

Shares of NYSE:ITUB traded up $0.16 during trading on Thursday, reaching $7.12. 29,888,326 shares of the stock were exchanged, compared to its average volume of 28,706,029. Itau Unibanco Holding S.A. has a 12 month low of $4.42 and a 12 month high of $7.18. The firm has a market cap of $76.71 billion, a PE ratio of 10.09, a PEG ratio of 1.03 and a beta of 0.74. The stock has a 50-day moving average price of $6.62 and a 200-day moving average price of $6.14. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39.

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 (EPS) 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 company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. Research analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 9th. Shareholders of record on Tuesday, December 2nd will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a c) dividend on an annualized basis and a yield of 0.5%. Itau Unibanco's payout ratio is currently 33.80%.

Analyst Ratings Changes

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 issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average 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.