Itau Unibanco Holding S.A. $ITUB Stake Lessened by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 53.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,540,037 shares of the bank’s stock after selling 32,882,046 shares during the period. Fisher Asset Management LLC’s holdings in Itau Unibanco were worth $204,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITUB. EverSource Wealth Advisors LLC increased its stake in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after buying an additional 5,355 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Itau Unibanco by 40.1% in the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after buying an additional 1,901 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Itau Unibanco in the third quarter worth $57,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock worth $66,000 after buying an additional 7,436 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Itau Unibanco in the fourth quarter worth $70,000.

Insiders Place Their Bets

In other news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the completion of the transaction, the insider owned 1,637,511 shares of the company’s stock, valued at approximately $14,442,847.02. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Fajerman Sergio Guillinet sold 50,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total transaction of $469,000.00. Following the transaction, the insider directly owned 1,265,119 shares of the company’s stock, valued at approximately $11,866,816.22. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 292,277 shares of company stock valued at $2,646,512. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITUB. JPMorgan Chase & Co. lifted their price target on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Itau Unibanco Stock Performance

Itau Unibanco stock opened at $7.82 on Tuesday. The company has a market cap of $86.56 billion, a PE ratio of 10.72, a P/E/G ratio of 0.85 and a beta of 0.63. The company has a fifty day moving average price of $8.42 and a two-hundred day moving average price of $8.09. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. Itau Unibanco Holding S.A. has a 12 month low of $5.93 and a 12 month high of $9.60.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The business had revenue of $9.01 billion during the quarter, compared to analyst estimates of $9.41 billion. Itau Unibanco had a return on equity of 26.50% and a net margin of 27.27%. Research analysts expect that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, March 23rd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s payout ratio is currently 4.11%.

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.