Capital Research Global Investors Buys 329,932 Shares of Itau Unibanco Holding S.A. $ITUB

Capital Research Global Investors boosted its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,215,208 shares of the bank’s stock after purchasing an additional 329,932 shares during the period. Capital Research Global Investors owned about 0.27% of Itau Unibanco worth $214,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MAI Capital Management bought a new stake in Itau Unibanco during the 2nd quarter valued at $41,000. EverSource Wealth Advisors LLC increased its position 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 valued at $47,000 after acquiring an additional 5,355 shares during the period. First Horizon Corp bought a new position in shares of Itau Unibanco during the third quarter valued at about $60,000. Park Avenue Securities LLC raised its position in Itau Unibanco by 17.5% during the 3rd quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock valued at $88,000 after purchasing an additional 1,790 shares during the last quarter. Finally, Mondrian Investment Partners LTD purchased a new stake in Itau Unibanco in the third quarter worth $90,000.

Wall Street Analyst Weigh In

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

Itau Unibanco Price Performance

NYSE:ITUB opened at $8.48 on Wednesday. The business’s 50-day moving average is $8.40 and its 200 day moving average is $7.53. Itau Unibanco Holding S.A. has a 12 month low of $4.91 and a 12 month high of $9.60. The company has a market capitalization of $93.87 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.91 and a beta of 0.63. The company has a current ratio of 1.79, a quick ratio of 1.58 and a debt-to-equity ratio of 2.61.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Thursday, February 5th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%.The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.98 billion. On average, equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Announces Dividend

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

Itau Unibanco 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.