FNY Partners Fund LP Purchases Shares of 23,000 Itau Unibanco Banco Holding SA (ITUB)

FNY Partners Fund LP purchased a new stake in Itau Unibanco Banco Holding SA (NYSE:ITUB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,000 shares of the bank’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ITUB. Virtu Financial LLC purchased a new position in Itau Unibanco Banco Holding SA during the second quarter valued at approximately $115,000. Advisor Partners LLC purchased a new position in Itau Unibanco Banco Holding SA during the second quarter valued at approximately $120,000. Ronald Blue & Co. LLC grew its stake in Itau Unibanco Banco Holding SA by 3.5% during the second quarter. Ronald Blue & Co. LLC now owns 12,157 shares of the bank’s stock valued at $134,000 after acquiring an additional 410 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Itau Unibanco Banco Holding SA during the second quarter valued at approximately $137,000. Finally, Smithfield Trust Co. grew its stake in Itau Unibanco Banco Holding SA by 15.4% during the second quarter. Smithfield Trust Co. now owns 12,483 shares of the bank’s stock valued at $137,000 after acquiring an additional 1,662 shares in the last quarter. 4.41% of the stock is currently owned by institutional investors.

Shares of Itau Unibanco Banco Holding SA (NYSE:ITUB) traded up 0.07% during midday trading on Tuesday, hitting $13.73. 1,527,607 shares of the stock were exchanged. The firm has a market cap of $89.23 billion, a PE ratio of 11.97 and a beta of 1.60. The firm’s 50-day moving average is $12.57 and its 200 day moving average is $11.97. Itau Unibanco Banco Holding SA has a 52-week low of $9.10 and a 52-week high of $13.75.

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 6th will be issued a $0.0047 dividend. The ex-dividend date of this dividend is Friday, September 1st. This is a positive change from Itau Unibanco Banco Holding SA’s previous monthly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.41%. Itau Unibanco Banco Holding SA’s dividend payout ratio (DPR) is 5.36%.

Itau Unibanco Banco Holding SA declared that its board has approved a stock repurchase program on Thursday, August 31st that permits the company to buyback 60,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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A number of equities analysts have commented on ITUB shares. Citigroup Inc. cut shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. ValuEngine raised shares of Itau Unibanco Banco Holding SA from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co cut shares of Itau Unibanco Banco Holding SA from an “overweight” rating to a “neutral” rating and set a $12.50 price target for the company. in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Itau Unibanco Banco Holding SA presently has an average rating of “Hold” and a consensus target price of $13.25.

Itau Unibanco Banco Holding SA Profile

Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.

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Institutional Ownership by Quarter for Itau Unibanco Banco Holding SA (NYSE:ITUB)

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