Itau Unibanco Holding S.A. $ITUB Shares Sold by Northcape Capital Pty Ltd

Northcape Capital Pty Ltd decreased its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 31.4% during the 2nd quarter, Holdings Channel reports. The fund owned 8,878,020 shares of the bank’s stock after selling 4,062,997 shares during the quarter. Itau Unibanco comprises about 9.8% of Northcape Capital Pty Ltd’s holdings, making the stock its 4th biggest position. Northcape Capital Pty Ltd’s holdings in Itau Unibanco were worth $72,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in Itau Unibanco during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after purchasing an additional 5,355 shares in the last quarter. Farther Finance Advisors LLC increased its position in Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after purchasing an additional 1,901 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Itau Unibanco during the 1st quarter worth approximately $59,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Itau Unibanco by 486.0% during 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 in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITUB. Weiss Ratings downgraded Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Itau Unibanco Stock Performance

ITUB opened at $7.90 on Tuesday. The stock has a market cap of $87.50 billion, a P/E ratio of 10.33, a P/E/G ratio of 0.86 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. The stock’s 50 day simple moving average is $8.11 and its 200 day simple moving average is $8.40. Itau Unibanco Holding S.A. has a 1-year low of $6.39 and a 1-year high of $9.60.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Itau Unibanco had a net margin of 26.41% and a return on equity of 22.01%. The firm had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.29 billion. As a group, equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be given a $0.068 dividend. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is currently 3.95%.

Insider Activity

In related news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the sale, the insider owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is 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.