Itau Unibanco Holding S.A. $ITUB Shares Purchased by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda boosted its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 111.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,674,082 shares of the bank’s stock after purchasing an additional 880,902 shares during the period. Itau Unibanco makes up 1.0% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 23rd biggest holding. SPX Gestao de Recursos Ltda’s holdings in Itau Unibanco were worth $12,288,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ITUB. Orbis Allan Gray Ltd increased its holdings in shares of Itau Unibanco by 104.3% during the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after buying an additional 43,153,787 shares during the last quarter. Fisher Asset Management LLC increased its stake in Itau Unibanco by 10.5% during the second quarter. Fisher Asset Management LLC now owns 61,497,171 shares of the bank’s stock worth $417,566,000 after acquiring an additional 5,828,296 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Itau Unibanco by 39.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 57,624,188 shares of the bank’s stock valued at $422,962,000 after purchasing an additional 16,339,845 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Itau Unibanco by 8.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 55,852,163 shares of the bank’s stock valued at $379,236,000 after purchasing an additional 4,440,223 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Itau Unibanco by 0.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,387,090 shares of the bank’s stock valued at $303,781,000 after purchasing an additional 369,474 shares during the last quarter.

Itau Unibanco Trading Down 1.3%

Shares of ITUB stock opened at $8.15 on Friday. Itau Unibanco Holding S.A. has a fifty-two week low of $4.91 and a fifty-two week high of $9.60. The company has a 50 day moving average price of $8.35 and a 200 day moving average price of $7.49. The stock has a market capitalization of $90.27 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 0.90 and a beta of 0.63. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.58 and a current ratio of 1.79.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.98 billion. Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%. Equities research analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be issued a $0.068 dividend. The ex-dividend date is Monday, March 23rd. Itau Unibanco’s dividend payout ratio (DPR) is 4.29%.

Analyst Upgrades and Downgrades

ITUB has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “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.