BlackRock Inc. raised its position in Itau Unibanco Holding SA (NYSE:ITUB) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,741,482 shares of the bank’s stock after purchasing an additional 1,239,288 shares during the quarter. BlackRock Inc.’s holdings in Itau Unibanco were worth $568,639,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ITUB. D.A. Davidson & CO. increased its stake in shares of Itau Unibanco by 8.5% in the fourth quarter. D.A. Davidson & CO. now owns 50,540 shares of the bank’s stock valued at $657,000 after buying an additional 3,955 shares during the period. AMS Capital Ltda acquired a new stake in shares of Itau Unibanco in the fourth quarter valued at about $13,905,000. First Trust Advisors LP increased its stake in shares of Itau Unibanco by 12.2% in the fourth quarter. First Trust Advisors LP now owns 194,711 shares of the bank’s stock valued at $2,531,000 after buying an additional 21,181 shares during the period. Bailard Inc. increased its stake in shares of Itau Unibanco by 104.3% in the fourth quarter. Bailard Inc. now owns 96,500 shares of the bank’s stock valued at $1,255,000 after buying an additional 49,256 shares during the period. Finally, Barings LLC acquired a new stake in shares of Itau Unibanco in the fourth quarter valued at about $31,194,000. Hedge funds and other institutional investors own 4.75% of the company’s stock.
ITUB has been the subject of several recent research reports. Deutsche Bank raised Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, December 11th. Zacks Investment Research cut Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. ValuEngine raised Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, BidaskClub cut Itau Unibanco from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Itau Unibanco has an average rating of “Hold” and an average target price of $14.25.
Itau Unibanco announced that its board has approved a stock repurchase program on Monday, December 18th that allows the company to buyback 28,620,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a monthly dividend, which will be paid on Thursday, April 12th. Investors of record on Friday, March 2nd will be paid a dividend of $0.0046 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.05 annualized dividend and a yield of 0.34%. Itau Unibanco’s dividend payout ratio is currently 41.74%.
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Itau Unibanco 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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