Capital Research Global Investors Boosts Holdings in Itau Unibanco Holding S.A. $ITUB

Capital Research Global Investors increased its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,215,208 shares of the bank’s stock after buying an additional 329,932 shares during the quarter. Capital Research Global Investors’ holdings in Itau Unibanco were worth $214,437,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ITUB. Park Avenue Securities LLC lifted its position in Itau Unibanco by 17.5% in the third quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock valued at $88,000 after buying an additional 1,790 shares during the last quarter. Aviso Financial Inc. lifted its stake in Itau Unibanco by 16.4% during the 3rd quarter. Aviso Financial Inc. now owns 20,106 shares of the bank’s stock worth $148,000 after acquiring an additional 2,836 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Itau Unibanco by 10.6% during the second quarter. Metis Global Partners LLC now owns 36,711 shares of the bank’s stock worth $249,000 after purchasing an additional 3,512 shares in the last quarter. Pekin Hardy Strauss Inc. grew its holdings in shares of Itau Unibanco by 8.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 49,805 shares of the bank’s stock valued at $366,000 after purchasing an additional 3,680 shares in the last quarter. Finally, Spire Wealth Management boosted its position in Itau Unibanco by 7.2% in the 3rd quarter. Spire Wealth Management now owns 55,679 shares of the bank’s stock valued at $409,000 after buying an additional 3,733 shares during the period.

Analyst Ratings Changes

A number of research firms recently issued reports on ITUB. JPMorgan Chase & Co. lifted their target price on Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.00.

Itau Unibanco Stock Performance

NYSE ITUB opened at $8.48 on Wednesday. Itau Unibanco Holding S.A. has a 12-month low of $4.91 and a 12-month high of $9.60. The stock has a market capitalization of $93.87 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.91 and a beta of 0.63. The business’s 50 day moving average is $8.40 and its two-hundred day moving average is $7.53. The company has a current ratio of 1.79, a quick ratio of 1.58 and a debt-to-equity ratio of 2.61.

Itau Unibanco (NYSE:ITUB) last posted its earnings results on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%. Research analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be issued a $0.068 dividend. The ex-dividend date is Monday, March 23rd. Itau Unibanco’s payout ratio is presently 4.29%.

Itau Unibanco Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.