Employees Retirement System of Texas Raises Stake in Itau Unibanco Holding S.A. $ITUB

Employees Retirement System of Texas increased its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 14.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 967,156 shares of the bank’s stock after acquiring an additional 120,062 shares during the period. Employees Retirement System of Texas’ holdings in Itau Unibanco were worth $6,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flputnam Investment Management Co. boosted its position in shares of Itau Unibanco by 10.7% in the 1st quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank’s stock worth $110,000 after purchasing an additional 1,930 shares in the last quarter. Hamilton Capital LLC boosted its holdings in Itau Unibanco by 15.5% in the first quarter. Hamilton Capital LLC now owns 16,081 shares of the bank’s stock worth $88,000 after acquiring an additional 2,163 shares in the last quarter. Parallel Advisors LLC grew 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 worth $69,000 after acquiring an additional 2,455 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Itau Unibanco by 21.6% during the first quarter. Avantax Advisory Services Inc. now owns 13,890 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,468 shares in the last quarter. Finally, Alta Capital Management LLC raised its position in shares of Itau Unibanco by 24.3% in the 2nd quarter. Alta Capital Management LLC now owns 14,025 shares of the bank’s stock worth $95,000 after purchasing an additional 2,740 shares during the last quarter.

Wall Street Analysts Forecast Growth

ITUB has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Itau Unibanco from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Itau Unibanco in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.09.

Itau Unibanco Price Performance

Shares of NYSE:ITUB opened at $7.67 on Thursday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market cap of $82.64 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.10 and a beta of 0.85. The business has a 50-day simple moving average of $7.27 and a two-hundred day simple moving average of $6.90. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $7.86.

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.