Wealth Alliance Grows Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Wealth Alliance grew its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,095 shares of the bank’s stock after purchasing an additional 8,648 shares during the period. Wealth Alliance’s holdings in Itaú Unibanco were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC increased its stake in Itaú Unibanco by 227.8% in the third quarter. Lindbrook Capital LLC now owns 5,133 shares of the bank’s stock worth $28,000 after purchasing an additional 3,567 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Itaú Unibanco during the 3rd quarter worth $28,000. Eagle Bay Advisors LLC bought a new position in shares of Itaú Unibanco during the 2nd quarter worth $30,000. Bruce G. Allen Investments LLC bought a new position in shares of Itaú Unibanco during the 4th quarter worth $36,000. Finally, Natixis bought a new position in shares of Itaú Unibanco during the 4th quarter worth $38,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HSBC downgraded Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Bank of America raised Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Tuesday, January 16th.

Itaú Unibanco Trading Up 0.8 %

Shares of NYSE:ITUB opened at $6.05 on Thursday. The business has a 50-day moving average price of $6.79 and a 200-day moving average price of $6.42. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25. The stock has a market cap of $59.29 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.78 and a beta of 0.92. Itaú Unibanco Holding S.A. has a 52-week low of $4.85 and a 52-week high of $7.27.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Monday, February 5th. The bank reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. Equities analysts predict that Itaú Unibanco Holding S.A. will post 0.82 EPS for the current year.

Itaú Unibanco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be given a dividend of $0.003 per share. This represents a $0.04 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, May 2nd. Itaú Unibanco’s dividend payout ratio is currently 4.41%.

Itaú Unibanco Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.