Cloverfields Capital Group LP Purchases New Holdings in Itau Unibanco Holding S.A. $ITUB

Cloverfields Capital Group LP acquired a new stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 254,644 shares of the bank’s stock, valued at approximately $1,823,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ITUB. Orbis Allan Gray Ltd increased its stake in Itau Unibanco by 104.3% during the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock valued at $574,053,000 after purchasing an additional 43,153,787 shares in the last quarter. Samlyn Capital LLC bought a new stake in Itau Unibanco during the 3rd quarter valued at about $99,388,000. Boston Partners increased its stake in Itau Unibanco by 1,667.7% during the 3rd quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock valued at $91,117,000 after purchasing an additional 11,711,487 shares in the last quarter. Tredje AP fonden bought a new stake in Itau Unibanco during the 3rd quarter valued at about $53,024,000. Finally, William Blair Investment Management LLC increased its stake in Itau Unibanco by 24.0% during the 4th quarter. William Blair Investment Management LLC now owns 36,551,763 shares of the bank’s stock valued at $261,679,000 after purchasing an additional 7,081,568 shares in the last quarter.

Itau Unibanco Stock Performance

Shares of ITUB stock opened at $7.99 on Friday. The company has a 50 day moving average price of $8.33 and a 200-day moving average price of $8.12. Itau Unibanco Holding S.A. has a 52 week low of $5.93 and a 52 week high of $9.60. The firm has a market capitalization of $88.44 billion, a PE ratio of 10.95, a P/E/G ratio of 0.85 and a beta of 0.59. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53.

Itau Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $9.01 billion for the quarter, compared to the consensus estimate of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. As a group, equities research analysts expect that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s payout ratio is 4.11%.

Insider Buying and Selling at Itau Unibanco

In related news, 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 value of $469,000.00. Following the sale, the insider owned 1,265,119 shares in the company, valued at approximately $11,866,816.22. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider owned 1,637,511 shares in the company, valued at $14,442,847.02. This trade represents a 10.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 292,277 shares of company stock worth $2,646,512 in the last three months. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ITUB. Zacks Research lowered shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

About Itau Unibanco

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.