Arrowstreet Capital Limited Partnership Decreases Stake in Itau Unibanco Holding S.A. $ITUB

Arrowstreet Capital Limited Partnership cut its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,481,880 shares of the bank’s stock after selling 8,043,686 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Itau Unibanco were worth $464,938,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ITUB. Kestra Advisory Services LLC purchased a new position in Itau Unibanco in the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its holdings in shares of Itau Unibanco by 40.1% during the 4th quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after purchasing an additional 1,901 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 5,355 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Itau Unibanco in the first quarter valued at approximately $59,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after purchasing an additional 7,436 shares during the last quarter.

Itau Unibanco Stock Down 1.5%

Shares of NYSE ITUB opened at $8.36 on Friday. The company has a market capitalization of $92.54 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.91 and a beta of 0.58. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. The company has a 50 day simple moving average of $8.02 and a 200-day simple moving average of $8.32. Itau Unibanco Holding S.A. has a 1 year low of $5.93 and a 1 year high of $9.60.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The business had revenue of $9.01 billion during the quarter, compared to analyst estimates of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. On average, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be paid a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is 4.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ITUB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised their target price on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Insider Buying and Selling at Itau Unibanco

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. This represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

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.