Matthews International Capital Management LLC Has $8.12 Million Stake in Itau Unibanco Holding S.A. $ITUB

Matthews International Capital Management LLC decreased its position in Itau Unibanco Holding S.A. (NYSE:ITUB) by 15.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 968,644 shares of the bank’s stock after selling 181,304 shares during the period. Itau Unibanco accounts for about 3.3% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Matthews International Capital Management LLC’s holdings in Itau Unibanco were worth $8,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank raised its position in Itau Unibanco by 11.1% during the 4th quarter. Huntington National Bank now owns 10,895 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,092 shares in the last quarter. Gould Asset Management LLC CA grew its position in shares of Itau Unibanco by 3.0% during the 4th quarter. Gould Asset Management LLC CA now owns 40,777 shares of the bank’s stock worth $292,000 after buying an additional 1,187 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Itau Unibanco by 19.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,135 shares of the bank’s stock valued at $58,000 after buying an additional 1,341 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in shares of Itau Unibanco by 3.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 46,666 shares of the bank’s stock valued at $334,000 after buying an additional 1,357 shares during the period. Finally, Stephens Inc. AR raised its holdings in shares of Itau Unibanco by 3.7% in the first quarter. Stephens Inc. AR now owns 40,445 shares of the bank’s stock valued at $339,000 after acquiring an additional 1,433 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed 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 shares of Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Itau Unibanco has an average rating of “Moderate Buy” and an average price target of $10.00.

Itau Unibanco Stock Up 0.2%

Itau Unibanco stock opened at $8.63 on Monday. Itau Unibanco Holding S.A. has a 1-year low of $5.93 and a 1-year high of $9.60. The business has a fifty day moving average price of $8.00 and a 200-day moving average price of $8.24. 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 stock has a market capitalization of $95.64 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.93 and a beta of 0.58.

Itau Unibanco (NYSE:ITUB) last announced its earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). The business had revenue of $9.01 billion for 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%. Equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.89 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be given a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.11%.

Insider Activity at Itau Unibanco

In related news, insider Fajerman Sergio Guillinet sold 50,000 shares of Itau Unibanco stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $9.38, for a total value of $469,000.00. Following the completion of the sale, the insider directly owned 1,265,119 shares in the company, valued at $11,866,816.22. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vanzo Carlos Orestes sold 60,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 169,477 shares of company stock valued at $1,528,616 over the last ninety days. 0.61% of the stock is currently owned by insiders.

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.