ABN Amro Investment Solutions Boosts Stock Position in Itau Unibanco Holding S.A. $ITUB

ABN Amro Investment Solutions increased its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 72.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,376,967 shares of the bank’s stock after buying an additional 998,999 shares during the quarter. ABN Amro Investment Solutions’ holdings in Itau Unibanco were worth $19,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ITUB. Royal Bank of Canada raised its stake in shares of Itau Unibanco by 11.7% during the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock worth $2,450,000 after acquiring an additional 46,608 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Itau Unibanco by 28.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock valued at $27,482,000 after purchasing an additional 1,107,607 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Itau Unibanco by 332.4% during the 2nd 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 during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Itau Unibanco by 11.7% during the 2nd quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock valued at $804,000 after purchasing an additional 12,442 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Itau Unibanco by 425.3% in the 2nd quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock worth $2,420,000 after purchasing an additional 288,602 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Activity

In related news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total value of $494,400.00. Following the sale, the insider directly owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by insiders.

Itau Unibanco Stock Up 0.8%

Shares of NYSE ITUB opened at $8.38 on Wednesday. The firm’s fifty day moving average is $8.00 and its 200 day moving average is $8.31. Itau Unibanco Holding S.A. has a 52 week low of $5.93 and a 52 week high of $9.60. 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 cap of $92.88 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.89 and a beta of 0.58.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $9.01 billion for the quarter, compared to analysts’ expectations 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 expect that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The company also recently announced 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 is currently 4.11%.

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.