Credit Suisse AG increased its position in shares of Itau Unibanco Holding SA (NYSE:ITUB) by 29.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,039,273 shares of the bank’s stock after buying an additional 238,476 shares during the quarter. Credit Suisse AG’s holdings in Itau Unibanco were worth $11,411,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ITUB. Schroder Investment Management Group raised its position in shares of Itau Unibanco by 74.6% during the 3rd quarter. Schroder Investment Management Group now owns 47,059,436 shares of the bank’s stock valued at $516,713,000 after buying an additional 20,108,356 shares during the period. Vontobel Asset Management Inc. purchased a new stake in shares of Itau Unibanco during the 2nd quarter valued at approximately $50,005,000. Renaissance Technologies LLC raised its position in shares of Itau Unibanco by 363.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,281,803 shares of the bank’s stock valued at $54,825,000 after buying an additional 4,142,754 shares during the period. Capital Growth Management LP raised its position in shares of Itau Unibanco by 62.6% during the 3rd quarter. Capital Growth Management LP now owns 9,870,000 shares of the bank’s stock valued at $108,373,000 after buying an additional 3,800,000 shares during the period. Finally, Alliancebernstein L.P. purchased a new stake in shares of Itau Unibanco during the 3rd quarter valued at approximately $40,921,000. 5.91% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. ValuEngine downgraded shares of Itau Unibanco from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Zacks Investment Research downgraded shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Monday, November 26th. Morgan Stanley upgraded shares of Itau Unibanco from an “underweight” rating to an “equal weight” rating in a report on Friday, November 9th. Finally, Citigroup downgraded shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.50.
Itau Unibanco stock opened at $9.07 on Friday. Itau Unibanco Holding SA has a fifty-two week low of $6.57 and a fifty-two week high of $11.32. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $89.29 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.29 and a beta of 1.21.
Itau Unibanco (NYSE:ITUB) last posted its earnings results on Monday, October 29th. The bank reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Itau Unibanco had a net margin of 15.44% and a return on equity of 17.22%. The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.96 billion. On average, sell-side analysts expect that Itau Unibanco Holding SA will post 0.71 EPS for the current year.
The business also recently announced a special dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, December 19th will be issued a $0.0028 dividend. The ex-dividend date of this dividend is Tuesday, December 18th. This represents a yield of 0.51%. Itau Unibanco’s dividend payout ratio (DPR) is presently 6.58%.
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About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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