PNC Financial Services Group Inc. Acquires 12,807 Shares of Itau Unibanco Holding S.A. $ITUB

PNC Financial Services Group Inc. boosted its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 9.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 153,169 shares of the bank’s stock after acquiring an additional 12,807 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Itau Unibanco were worth $1,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in Itau Unibanco by 3,590.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock valued at $29,000 after acquiring an additional 4,201 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Itau Unibanco by 114.8% in the 2nd quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock worth $66,000 after acquiring an additional 5,167 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Itau Unibanco by 31.7% during the 2nd quarter. Parallel Advisors LLC now owns 10,195 shares of the bank’s stock worth $69,000 after purchasing an additional 2,455 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Itau Unibanco during the second quarter valued at about $69,000. Finally, Ieq Capital LLC purchased a new position in Itau Unibanco in the first quarter valued at about $64,000.

Itau Unibanco Price Performance

Shares of NYSE ITUB opened at $7.36 on Friday. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $7.86. The company has a market cap of $79.29 billion, a PE ratio of 10.43, a P/E/G ratio of 1.10 and a beta of 0.85. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. The business has a 50-day simple moving average of $7.24 and a two-hundred day simple moving average of $6.86.

Wall Street Analysts Forecast Growth

Several analysts have commented on ITUB shares. Zacks Research lowered shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Itau Unibanco in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.18.

About Itau Unibanco

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.