Kingswood Wealth Advisors LLC Makes New $332,000 Investment in Itau Unibanco Holding S.A. $ITUB

Kingswood Wealth Advisors LLC purchased a new position in Itau Unibanco Holding S.A. (NYSE:ITUB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 48,868 shares of the bank’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Itau Unibanco by 3,590.6% in the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after acquiring an additional 4,201 shares in the last quarter. Alta Capital Management LLC acquired a new stake in Itau Unibanco during the 1st quarter worth about $62,000. Ieq Capital LLC acquired a new stake in Itau Unibanco during the 1st quarter worth about $64,000. GAMMA Investing LLC raised its holdings in Itau Unibanco by 114.8% during the 2nd quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock worth $66,000 after buying an additional 5,167 shares during the period. Finally, Tuttle Capital Management LLC acquired a new stake in Itau Unibanco during the 1st quarter worth about $67,000.

Analyst Ratings Changes

Several research firms have issued reports on ITUB. Weiss Ratings restated a “hold (c+)” rating on shares of Itau Unibanco in a report on Wednesday. UBS Group restated a “neutral” rating on shares of Itau Unibanco in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Itau Unibanco presently has an average rating of “Moderate Buy” and a consensus target price of $6.27.

Itau Unibanco Trading Down 2.5%

NYSE:ITUB opened at $6.76 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $7.45. The stock’s 50-day moving average is $7.01 and its two-hundred day moving average is $6.53. The stock has a market cap of $72.88 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.84.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%.The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $44.75 billion. As a group, equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 8th. Investors of record on Wednesday, August 20th were paid a $0.0454 dividend. This represents a c) annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.23%.

Itau 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.