Paloma Partners Management Co bought a new stake in Itau Unibanco Holding SA (NYSE:ITUB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 35,289 shares of the bank’s stock, valued at approximately $459,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted 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. Comerica Bank lifted its stake in shares of Itau Unibanco by 2.0% in the third quarter. Comerica Bank now owns 218,760 shares of the bank’s stock valued at $2,872,000 after buying an additional 4,202 shares during the period. US Bancorp DE lifted its stake in shares of Itau Unibanco by 0.8% in the fourth quarter. US Bancorp DE now owns 580,905 shares of the bank’s stock valued at $7,551,000 after buying an additional 4,350 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Itau Unibanco by 3.0% in the third quarter. Neuberger Berman Group LLC now owns 171,961 shares of the bank’s stock valued at $2,356,000 after buying an additional 4,935 shares during the period. Finally, Advisor Partners LLC lifted its stake in shares of Itau Unibanco by 61.0% in the fourth quarter. Advisor Partners LLC now owns 16,500 shares of the bank’s stock valued at $244,000 after buying an additional 6,253 shares during the period. Institutional investors and hedge funds own 4.99% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Scotiabank cut shares of Itau Unibanco from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, March 14th. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. ValuEngine raised shares of Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Credit Suisse Group raised shares of Itau Unibanco from a “neutral” rating to a “buy” rating in a research report on Monday, March 5th. Finally, Deutsche Bank raised shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.25.
Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Monday, February 5th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.03). Itau Unibanco had a return on equity of 16.87% and a net margin of 21.51%. The business had revenue of $7.79 billion during the quarter, compared to analyst estimates of $8.49 billion. analysts expect that Itau Unibanco Holding SA will post 1.19 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, April 12th. Investors of record on Friday, March 2nd will be given a $0.0046 dividend. This represents a $0.05 annualized dividend and a yield of 0.36%. The ex-dividend date is Thursday, March 1st. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.35%.
Itau Unibanco announced that its board has authorized a stock buyback program on Monday, December 18th that permits the company to buyback 28,620,000 shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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About Itau Unibanco
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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