Sagespring Wealth Partners LLC Acquires 9,254 Shares of Itau Unibanco Holding S.A. $ITUB

Sagespring Wealth Partners LLC raised its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 48.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,537 shares of the bank’s stock after purchasing an additional 9,254 shares during the period. Sagespring Wealth Partners LLC’s holdings in Itau Unibanco were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Naviter Wealth LLC bought a new position in Itau Unibanco during the 2nd quarter valued at approximately $462,000. Moran Wealth Management LLC raised its position in Itau Unibanco by 0.5% during the 2nd quarter. Moran Wealth Management LLC now owns 828,255 shares of the bank’s stock valued at $5,624,000 after purchasing an additional 4,499 shares during the last quarter. Yousif Capital Management LLC raised its position in Itau Unibanco by 9.3% during the 2nd quarter. Yousif Capital Management LLC now owns 63,744 shares of the bank’s stock valued at $433,000 after purchasing an additional 5,435 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Itau Unibanco by 15.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 29,598 shares of the bank’s stock valued at $201,000 after purchasing an additional 4,036 shares during the last quarter. Finally, Meritage Portfolio Management bought a new position in Itau Unibanco during the 2nd quarter valued at approximately $2,201,000.

Itau Unibanco Stock Up 1.2%

Shares of NYSE:ITUB opened at $6.94 on Friday. 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 capitalization of $74.82 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.03 and a beta of 0.84. The stock has a 50 day moving average price of $7.03 and a 200-day moving average price of $6.58. Itau Unibanco Holding S.A. has a 52-week low of $4.42 and a 52-week high of $7.45.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. As a group, equities research analysts anticipate 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. Investors of record on Wednesday, August 20th were paid a $0.0454 dividend. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Wednesday, August 20th. This is an increase from Itau Unibanco’s previous monthly dividend of $0.00. Itau Unibanco’s dividend payout ratio (DPR) is currently 4.23%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Itau Unibanco in a research report on Wednesday, October 8th. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, UBS Group reissued a “neutral” rating on shares of Itau Unibanco in a research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.27.

Itau Unibanco 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.