Cullen Capital Management LLC Takes $4.59 Million Position in Itau Unibanco Holding S.A. $ITUB

Cullen Capital Management LLC purchased a new position in Itau Unibanco Holding S.A. (NYSE:ITUB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 675,383 shares of the bank’s stock, valued at approximately $4,586,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position in Itau Unibanco by 3,590.6% in the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after buying an additional 4,201 shares during the last quarter. MAI Capital Management bought a new position in shares of Itau Unibanco during the 2nd quarter worth $41,000. EverSource Wealth Advisors LLC increased its holdings in Itau Unibanco by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after acquiring an additional 5,355 shares during the last quarter. Ieq Capital LLC bought a new stake in Itau Unibanco in the 1st quarter valued at about $64,000. Finally, GAMMA Investing LLC lifted its holdings in Itau Unibanco by 114.8% during the second quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock valued at $66,000 after purchasing an additional 5,167 shares during the last quarter.

Wall Street Analysts Forecast Growth

ITUB has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Itau Unibanco from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Zacks Research cut shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.09.

Itau Unibanco Stock Performance

NYSE ITUB opened at $7.31 on Monday. The company’s 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $6.98. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58. Itau Unibanco Holding S.A. has a 1 year low of $4.42 and a 1 year high of $8.13. The stock has a market capitalization of $78.56 billion, a PE ratio of 10.11, a P/E/G ratio of 1.08 and a beta of 0.67.

Itau Unibanco Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Tuesday, June 2nd will be paid a dividend of $0.0033 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 0.5%. Itau Unibanco’s dividend payout ratio (DPR) is currently 526.39%.

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.