Mirae Asset Global Investments Co. Ltd. Makes New Investment in Itau Unibanco Holding S.A. $ITUB

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 95,462 shares of the bank’s stock, valued at approximately $814,000.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Itau Unibanco by 111.9% during the second quarter. Bank of America Corp DE now owns 22,293,618 shares of the bank’s stock worth $182,139,000 after buying an additional 11,771,394 shares in the last quarter. Carmignac Gestion raised its position in Itau Unibanco by 41.6% in the 2nd quarter. Carmignac Gestion now owns 12,219,314 shares of the bank’s stock valued at $99,832,000 after purchasing an additional 3,589,092 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Itau Unibanco by 32.4% in the 1st quarter. Hsbc Holdings PLC now owns 6,579,735 shares of the bank’s stock valued at $55,088,000 after buying an additional 1,611,094 shares during the period. Amundi boosted its stake in shares of Itau Unibanco by 32.1% in the 2nd quarter. Amundi now owns 5,286,501 shares of the bank’s stock valued at $43,191,000 after buying an additional 1,283,503 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of Itau Unibanco by 1.1% during the first quarter. Lazard Asset Management LLC now owns 5,202,138 shares of the bank’s stock worth $43,594,000 after buying an additional 58,133 shares in the last quarter.

Itau Unibanco Stock Down 0.2%

Shares of NYSE ITUB opened at $7.38 on Monday. The company has a market capitalization of $81.69 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $8.48 and a two-hundred day moving average of $8.36. Itau Unibanco Holding S.A. has a 1 year low of $6.82 and a 1 year high of $10.20.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, November 3rd. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Itau Unibanco had a return on equity of 22.06% and a net margin of 26.19%. The business had revenue of $9.49 billion for the quarter, compared to analyst estimates of $9.57 billion. On average, analysts forecast that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vanzo Orestes sold 74,643 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $8.38, for a total transaction of $625,508.34. Following the completion of the sale, the insider owned 933,371 shares in the company, valued at $7,821,648.98. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ITUB shares. The Goldman Sachs Group restated a “buy” rating and set a $10.50 target price (up from $9.30) on shares of Itau Unibanco in a research note on Friday, October 9th. Weiss Ratings downgraded shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. HSBC cut shares of Itau Unibanco from a “buy” rating to a “hold” rating and set a $9.10 price target for the company. in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Itau Unibanco to a “hold” rating in a report on Saturday, October 17th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.87.

Itau Unibanco Company Profile

Itaú Unibanco is a Brazilian financial services company headquartered in São Paulo. It was formed in 2008 through the merger of Banco Itaú and Unibanco and serves individuals, businesses and institutional clients.

The company provides retail and commercial banking services, including deposit accounts, loans, credit cards and payment solutions. Its other activities include investment banking, asset and wealth management, insurance and related financial services.

Itaú Unibanco operates primarily in Brazil and also has a presence in other markets in Latin America and internationally.