Hsbc Holdings PLC Buys 1,611,094 Shares of Itau Unibanco Holding S.A. $ITUB

Hsbc Holdings PLC increased its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 32.4% in the 1st quarter, Holdings Channel reports. The fund owned 6,579,735 shares of the bank’s stock after buying an additional 1,611,094 shares during the quarter. Hsbc Holdings PLC’s holdings in Itau Unibanco were worth $55,088,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ITUB. Kestra Advisory Services LLC bought a new stake in Itau Unibanco during the fourth quarter worth about $31,000. Farther Finance Advisors LLC increased its position in shares of Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock valued at $48,000 after purchasing an additional 1,901 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after buying an additional 5,355 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Itau Unibanco during the 1st quarter valued at about $59,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Itau Unibanco by 486.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock worth $66,000 after buying an additional 7,436 shares during the last quarter.

Insider Transactions at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total transaction of $494,400.00. Following the transaction, the insider directly owned 1,008,014 shares of the company’s stock, valued at approximately $8,306,035.36. The trade was a 5.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Itau Unibanco Stock Up 1.5%

Shares of NYSE ITUB opened at $8.32 on Tuesday. The firm’s fifty day moving average is $7.99 and its 200 day moving average is $8.30. Itau Unibanco Holding S.A. has a 52 week low of $5.93 and a 52 week high of $9.60. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. The company has a market cap of $92.21 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.88 and a beta of 0.58.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%.The business had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $9.41 billion. On average, equities research analysts expect that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be issued a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s payout ratio is 4.11%.

Analyst Ratings Changes

A number of brokerages have commented on ITUB. JPMorgan Chase & Co. increased their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.00.

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.