Hsbc Holdings PLC Raises Position in Itau Unibanco Holding S.A. $ITUB

Hsbc Holdings PLC grew its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,968,641 shares of the bank’s stock after acquiring an additional 130,998 shares during the period. Hsbc Holdings PLC’s holdings in Itau Unibanco were worth $35,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ITUB. Kestra Advisory Services LLC purchased a new position in shares of Itau Unibanco in the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its stake in Itau Unibanco by 332.4% in the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after purchasing an additional 5,355 shares during the period. Farther Finance Advisors LLC grew its stake in Itau Unibanco by 40.1% in the fourth 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 period. Community Bank N.A. purchased a new stake in Itau Unibanco in the third quarter worth $57,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in 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 worth $66,000 after purchasing an additional 7,436 shares in the last quarter.

Insider Activity

In other Itau Unibanco news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the completion of the sale, the insider directly owned 1,637,511 shares in the company, valued at approximately $14,442,847.02. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fajerman Sergio Guillinet sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total transaction of $469,000.00. Following the sale, the insider owned 1,265,119 shares of the company’s stock, valued at approximately $11,866,816.22. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 292,277 shares of company stock valued at $2,646,512. 0.61% of the stock is owned by insiders.

Itau Unibanco Stock Performance

Itau Unibanco stock opened at $7.95 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $88.06 billion, a P/E ratio of 10.90, a PEG ratio of 0.85 and a beta of 0.59. The stock’s 50 day moving average is $8.23 and its 200 day moving average is $8.15. Itau Unibanco Holding S.A. has a twelve month low of $5.93 and a twelve month high of $9.60.

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

Itau Unibanco Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.068 per share. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s dividend payout ratio (DPR) is presently 65.75%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ITUB. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research report on Wednesday, June 17th. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Itau Unibanco has a consensus rating of “Moderate Buy” and an average price target of $9.00.

About Itau Unibanco

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.