Moran Wealth Management LLC Purchases 4,499 Shares of Itau Unibanco Holding S.A. $ITUB

Moran Wealth Management LLC boosted its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 828,255 shares of the bank’s stock after purchasing an additional 4,499 shares during the quarter. Moran Wealth Management LLC’s holdings in Itau Unibanco were worth $5,624,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ITUB. GAMMA Investing LLC raised its holdings in Itau Unibanco by 442.4% in the first quarter. GAMMA Investing LLC now owns 24,750 shares of the bank’s stock worth $136,000 after purchasing an additional 20,187 shares in the last quarter. Rhumbline Advisers raised its holdings in Itau Unibanco by 13.6% in the first quarter. Rhumbline Advisers now owns 331,474 shares of the bank’s stock worth $1,823,000 after purchasing an additional 39,776 shares in the last quarter. Fifth Third Bancorp raised its holdings in Itau Unibanco by 12.5% in the first quarter. Fifth Third Bancorp now owns 89,264 shares of the bank’s stock worth $491,000 after purchasing an additional 9,904 shares in the last quarter. Elevation Point Wealth Partners LLC raised its holdings in Itau Unibanco by 26.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 14,465 shares of the bank’s stock worth $80,000 after purchasing an additional 3,050 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Itau Unibanco by 29.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 204,386 shares of the bank’s stock worth $1,124,000 after purchasing an additional 46,942 shares in the last quarter.

Itau Unibanco Price Performance

Shares of NYSE ITUB opened at $6.86 on Wednesday. The business’s 50 day moving average price is $7.03 and its 200 day moving average price is $6.56. The firm has a market cap of $73.90 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.02 and a beta of 0.84. Itau Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $7.45. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. On average, sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were given a $0.0454 dividend. The ex-dividend date was Wednesday, August 20th. This represents a c) annualized dividend and a yield of 7.9%. This is a boost from Itau Unibanco’s previous monthly dividend of $0.00. Itau Unibanco’s payout ratio is currently 4.23%.

Analysts Set New Price Targets

ITUB has been the topic of several recent analyst reports. Zacks Research upgraded shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Itau Unibanco in a report on Wednesday, October 8th. Finally, UBS Group restated a “neutral” rating on shares of Itau Unibanco in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $6.27.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.