Nykredit A S Purchases Shares of 766,652 Itau Unibanco Holding S.A. $ITUB

Nykredit A S bought a new position in Itau Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, Holdings Channel reports. The institutional investor bought 766,652 shares of the bank’s stock, valued at approximately $6,264,000.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in shares of Itau Unibanco in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after acquiring an additional 5,355 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Itau Unibanco in the 1st quarter worth about $59,000. Caitong International Asset Management Co. Ltd lifted its holdings in Itau Unibanco by 486.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock worth $66,000 after buying an additional 7,436 shares during the period. Finally, Syon Capital LLC purchased a new position in shares of Itau Unibanco in the 4th quarter valued at approximately $72,000.

Itau Unibanco Stock Performance

Shares of Itau Unibanco stock opened at $8.15 on Monday. The stock has a market capitalization of $90.27 billion, a PE ratio of 10.66, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day simple moving average is $8.02 and its 200-day simple moving average is $8.23. Itau Unibanco Holding S.A. has a 1-year low of $6.54 and a 1-year high of $9.60.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.29 billion. Itau Unibanco had a net margin of 26.41% and a return on equity of 21.40%. As a group, equities analysts anticipate that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Itau Unibanco

In related news, insider Vanzo Orestes sold 60,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the completion of the transaction, the insider owned 1,008,014 shares of the company’s stock, valued at approximately $8,306,035.36. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITUB. Weiss Ratings cut shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Itau Unibanco has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.