Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,921 shares of the bank’s stock after purchasing an additional 8,081 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Itau Unibanco were worth $1,602,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Securities Inc. purchased a new stake in Itau Unibanco in the 2nd quarter worth approximately $117,000. Advisor Partners LLC purchased a new stake in Itau Unibanco in the 2nd quarter worth approximately $120,000. Smithfield Trust Co. grew its stake in shares of Itau Unibanco by 15.4% during the 2nd quarter. Smithfield Trust Co. now owns 12,483 shares of the bank’s stock valued at $137,000 after buying an additional 1,662 shares during the period. Glovista Investments LLC purchased a new stake in shares of Itau Unibanco during the 2nd quarter valued at $137,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Itau Unibanco during the 3rd quarter valued at $142,000. 4.69% of the stock is owned by institutional investors and hedge funds.
Shares of Itau Unibanco Holding SA (NYSE ITUB) traded up $0.14 during midday trading on Thursday, hitting $12.94. 6,596,400 shares of the stock traded hands, compared to its average volume of 11,154,171. Itau Unibanco Holding SA has a one year low of $9.10 and a one year high of $14.59. The stock has a market cap of $83,362.56, a PE ratio of 11.03, a PEG ratio of 1.39 and a beta of 1.58. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.66 and a quick ratio of 1.66.
The business also recently disclosed a special dividend, which will be paid on Thursday, May 10th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.0447 per share. The ex-dividend date of this dividend is Friday, December 15th. This represents a dividend yield of 0.42%. Itau Unibanco’s dividend payout ratio is presently 4.35%.
Itau Unibanco declared that its board has authorized a stock buyback plan on Thursday, August 31st that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Several analysts have recently issued reports on the stock. ValuEngine cut shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. BidaskClub cut shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Citigroup cut shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.50.
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Itau Unibanco Company Profile
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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