Itau Unibanco Holding S.A. $ITUB Stake Reduced by Barings LLC

Barings LLC decreased its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,134,326 shares of the bank’s stock after selling 73,823 shares during the period. Barings LLC’s holdings in Itau Unibanco were worth $8,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. MAI Capital Management acquired a new stake in Itau Unibanco during the second quarter valued at approximately $41,000. EverSource Wealth Advisors LLC increased its holdings in shares of Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after buying an additional 5,355 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Itau Unibanco during the 3rd quarter valued at $60,000. Park Avenue Securities LLC boosted its stake in shares of Itau Unibanco by 17.5% during the 3rd quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock worth $88,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new position in shares of Itau Unibanco in the 3rd quarter worth $90,000.

Itau Unibanco Trading Up 2.6%

NYSE:ITUB opened at $9.51 on Friday. The stock has a market cap of $105.37 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.62. Itau Unibanco Holding S.A. has a fifty-two week low of $4.73 and a fifty-two week high of $9.60. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.79 and a quick ratio of 1.58. The stock’s 50-day moving average is $7.98 and its two-hundred day moving average is $7.34.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). Itau Unibanco had a return on equity of 20.83% and a net margin of 20.64%.The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.98 billion. As a group, equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.0032 per share. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, December 2nd. Itau Unibanco’s payout ratio is currently 4.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ITUB shares. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Itau Unibanco has a consensus rating of “Buy” and an average target price of $9.00.

Itau Unibanco Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.