Public Employees Retirement System of Ohio Sells 2,464,932 Shares of Itau Unibanco Holding S.A. $ITUB

Public Employees Retirement System of Ohio lessened its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 39.2% during the 1st quarter, HoldingsChannel reports. The fund owned 3,818,022 shares of the bank’s stock after selling 2,464,932 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Itau Unibanco were worth $31,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ITUB. Kestra Advisory Services LLC purchased a new stake in shares of Itau Unibanco in the 4th quarter worth $31,000. EverSource Wealth Advisors LLC raised its holdings in Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after purchasing an additional 5,355 shares during the period. Farther Finance Advisors LLC lifted its position in Itau Unibanco by 40.1% during the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock valued at $48,000 after purchasing an additional 1,901 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Itau Unibanco during the first quarter valued at $59,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Itau Unibanco by 486.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after purchasing an additional 7,436 shares during the period.

Wall Street Analysts Forecast Growth

ITUB has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research report on Wednesday, June 17th. JPMorgan Chase & Co. raised their price objective on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Itau Unibanco Stock Performance

ITUB opened at $8.29 on Friday. The company has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $8.32. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $91.77 billion, a P/E ratio of 11.36, a PEG ratio of 0.90 and a beta of 0.58. Itau Unibanco Holding S.A. has a 1-year low of $5.93 and a 1-year high of $9.60.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm 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%. Equities analysts forecast that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors 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 dividend payout ratio is currently 4.11%.

Insider Transactions at Itau Unibanco

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the sale, the insider owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

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.