Tredje AP fonden Makes New Investment in Itau Unibanco Holding S.A. $ITUB

Tredje AP fonden purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,224,000 shares of the bank’s stock, valued at approximately $53,024,000. Tredje AP fonden owned approximately 0.07% of Itau Unibanco as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of ITUB. MAI Capital Management acquired a new position in shares of Itau Unibanco during the 2nd quarter worth about $41,000. EverSource Wealth Advisors LLC raised its holdings in Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after acquiring an additional 5,355 shares in the last quarter. First Horizon Corp acquired a new position in Itau Unibanco during the third quarter valued at approximately $60,000. Park Avenue Securities LLC grew its stake in Itau Unibanco by 17.5% in the third quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock valued at $88,000 after purchasing an additional 1,790 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new position in shares of Itau Unibanco during the 3rd quarter worth approximately $90,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ITUB shares. Zacks Research upgraded shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price target on Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.00.

Itau Unibanco Stock Performance

NYSE:ITUB opened at $9.51 on Friday. The company has a market cap of $105.37 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.03 and a beta of 0.62. Itau Unibanco Holding S.A. has a fifty-two week low of $4.73 and a fifty-two week high of $9.60. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.58 and a current ratio of 1.79. The stock has a fifty day moving average price of $7.98 and a 200-day moving average price of $7.34.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Thursday, February 5th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.98 billion. As a group, equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, January 11th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $0.0032 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, December 2nd. Itau Unibanco’s dividend payout ratio is 4.29%.

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.