Deprince Race & Zollo Inc. Sells 64,700 Shares of Itau Unibanco Holding S.A. $ITUB

Deprince Race & Zollo Inc. lessened its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 5.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,092,846 shares of the bank’s stock after selling 64,700 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Itau Unibanco were worth $9,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Itau Unibanco by 11.7% in the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock valued at $2,450,000 after purchasing an additional 46,608 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Itau Unibanco by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock worth $27,482,000 after buying an additional 1,107,607 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after buying an additional 5,355 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Itau Unibanco by 11.7% during the second quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock worth $804,000 after buying an additional 12,442 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Itau Unibanco by 425.3% in the 2nd quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock valued at $2,420,000 after buying an additional 288,602 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. Zacks Research cut shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Itau Unibanco Stock Performance

Shares of NYSE:ITUB opened at $8.12 on Friday. The business’s fifty day moving average price is $8.06 and its two-hundred day moving average price is $8.19. Itau Unibanco Holding S.A. has a fifty-two week low of $5.93 and a fifty-two week high of $9.60. The stock has a market capitalization of $89.98 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.87 and a beta of 0.58. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The company had revenue of $9.01 billion for the quarter, compared to analyst estimates of $9.41 billion. Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%. As a group, analysts predict that Itau Unibanco Holding S.A. will post 0.89 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is presently 65.75%.

Insider Transactions at Itau Unibanco

In related news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the completion of the sale, the insider owned 1,637,511 shares in the company, valued at $14,442,847.02. This trade represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fajerman Sergio Guillinet sold 39,477 shares of Itau Unibanco stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $9.53, for a total transaction of $376,215.81. Following the transaction, the insider directly owned 1,205,642 shares of the company’s stock, valued at $11,489,768.26. This represents a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 292,277 shares of company stock valued at $2,646,512 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

About Itau Unibanco

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.