Headlands Technologies LLC Buys New Stake in Itau Unibanco Holding S.A. $ITUB

Headlands Technologies LLC purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 62,048 shares of the bank’s stock, valued at approximately $507,000.

A number of other institutional investors also recently bought and sold shares of ITUB. Mirabaud Asset Management Ltd acquired a new stake in shares of Itau Unibanco during the 4th quarter worth about $1,234,000. Bank of America Corp DE boosted its holdings in Itau Unibanco by 155.5% in the first quarter. Bank of America Corp DE now owns 10,522,224 shares of the bank’s stock valued at $88,176,000 after purchasing an additional 6,404,438 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Itau Unibanco by 24.0% in the fourth quarter. William Blair Investment Management LLC now owns 36,551,763 shares of the bank’s stock valued at $261,679,000 after purchasing an additional 7,081,568 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Itau Unibanco by 386.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,065,538 shares of the bank’s stock valued at $7,629,000 after purchasing an additional 846,456 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Itau Unibanco by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 32,465,077 shares of the bank’s stock valued at $232,450,000 after purchasing an additional 1,925,708 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings downgraded shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Itau Unibanco currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Itau Unibanco Stock Up 5.1%

Itau Unibanco stock opened at $8.07 on Thursday. The company has a market capitalization of $89.37 billion, a P/E ratio of 10.56, a PEG ratio of 0.83 and a beta of 0.56. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.08 and a current ratio of 1.08. Itau Unibanco Holding S.A. has a fifty-two week low of $6.54 and a fifty-two week high of $9.60. The stock has a 50-day simple moving average of $8.01 and a 200-day simple moving average of $8.24.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Equities research analysts expect that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Insider Activity

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Itau Unibanco Company 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.