Profund Advisors LLC decreased its stake in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 10.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 513,023 shares of the bank’s stock after selling 60,153 shares during the quarter. Profund Advisors LLC’s holdings in Itau Unibanco were worth $4,833,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Comerica Securities Inc. raised its position in Itau Unibanco by 62.7% in the fourth quarter. Comerica Securities Inc. now owns 17,643 shares of the bank’s stock valued at $161,000 after purchasing an additional 6,798 shares during the period. Parallel Advisors LLC purchased a new stake in shares of Itau Unibanco in the 1st quarter valued at $34,000. Stevens Capital Management LP purchased a new stake in shares of Itau Unibanco in the 1st quarter valued at $654,000. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Itau Unibanco by 11.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 15,264 shares of the bank’s stock valued at $134,000 after buying an additional 1,548 shares during the period. Finally, OLD National Bancorp IN raised its holdings in shares of Itau Unibanco by 21.2% in the 1st quarter. OLD National Bancorp IN now owns 23,051 shares of the bank’s stock valued at $203,000 after buying an additional 4,036 shares during the period. Hedge funds and other institutional investors own 5.16% of the company’s stock.
ITUB has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Itau Unibanco from a “neutral” rating to an “overweight” rating in a report on Thursday, August 1st. Citigroup upgraded Itau Unibanco from a “neutral” rating to a “buy” rating in a report on Tuesday, August 27th. Morgan Stanley upgraded Itau Unibanco from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $9.50 to $13.50 in a report on Wednesday, August 7th. HSBC upgraded Itau Unibanco from a “reduce” rating to a “hold” rating in a report on Friday, May 17th. Finally, ValuEngine downgraded Itau Unibanco from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Itau Unibanco has an average rating of “Hold” and a consensus target price of $12.75.
Shares of ITUB stock traded up $0.20 on Friday, hitting $8.84. The stock had a trading volume of 14,986,318 shares, compared to its average volume of 18,171,196. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $83.69 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.22 and a beta of 0.89. Itau Unibanco Holding SA has a 1 year low of $6.57 and a 1 year high of $10.80. The company’s 50 day moving average price is $8.75 and its 200-day moving average price is $8.90.
Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.60 billion. Itau Unibanco had a return on equity of 18.40% and a net margin of 15.57%. On average, equities analysts forecast that Itau Unibanco Holding SA will post 0.74 EPS for the current year.
The company also recently disclosed a — dividend, which will be paid on Tuesday, November 12th. Investors of record on Wednesday, October 2nd will be issued a $0.0037 dividend. The ex-dividend date is Tuesday, October 1st. This represents a dividend yield of 5.1%. Itau Unibanco’s dividend payout ratio is presently 7.46%.
About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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