Nordea Investment Management AB Decreases Stake in Itau Unibanco Holding S.A. $ITUB

Nordea Investment Management AB cut its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 9.4% during the second quarter, Holdings Channel reports. The institutional investor owned 63,749 shares of the bank’s stock after selling 6,620 shares during the quarter. Nordea Investment Management AB’s holdings in Itau Unibanco were worth $427,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Itau Unibanco by 3,590.6% in the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock valued at $29,000 after buying an additional 4,201 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Itau Unibanco by 114.8% in the second quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock valued at $66,000 after buying an additional 5,167 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Itau Unibanco by 31.7% in the second quarter. Parallel Advisors LLC now owns 10,195 shares of the bank’s stock valued at $69,000 after buying an additional 2,455 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Itau Unibanco in the second quarter valued at approximately $69,000. Finally, Ieq Capital LLC purchased a new stake in shares of Itau Unibanco in the first quarter valued at approximately $64,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ITUB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Itau Unibanco in a research note on Wednesday, October 8th. UBS Group reissued a “neutral” rating on shares of Itau Unibanco in a report on Thursday, July 10th. Finally, Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Itau Unibanco presently has an average rating of “Buy” and an average price target of $6.27.

Itau Unibanco Price Performance

Itau Unibanco stock opened at $7.09 on Friday. 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. The firm’s 50-day simple moving average is $7.04 and its 200 day simple moving average is $6.62. The firm has a market capitalization of $76.38 billion, a PE ratio of 10.04, a P/E/G ratio of 1.05 and a beta of 0.84.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%.The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $44.75 billion. On average, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 8th. Stockholders of record on Wednesday, August 20th were issued a $0.0454 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, August 20th. Itau Unibanco’s payout ratio is presently 4.23%.

About Itau Unibanco

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.