New York State Common Retirement Fund Acquires New Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB)

New York State Common Retirement Fund bought a new stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,420,052 shares of the bank’s stock, valued at approximately $23,769,000.

Several other institutional investors also recently bought and sold shares of the stock. HTLF Bank bought a new position in Itaú Unibanco during the fourth quarter valued at about $83,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Itaú Unibanco by 54.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock valued at $56,000 after buying an additional 2,838 shares in the last quarter. Wealth Alliance raised its holdings in Itaú Unibanco by 16.2% during the fourth quarter. Wealth Alliance now owns 62,095 shares of the bank’s stock valued at $432,000 after buying an additional 8,648 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Itaú Unibanco by 43.2% during the fourth quarter. Mackenzie Financial Corp now owns 41,341 shares of the bank’s stock valued at $287,000 after buying an additional 12,480 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Itaú Unibanco by 25.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,339 shares of the bank’s stock valued at $704,000 after buying an additional 20,400 shares in the last quarter.

Itaú Unibanco Stock Up 3.1 %

Itaú Unibanco stock opened at $6.30 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.58 and a debt-to-equity ratio of 2.25. The business’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $6.46. Itaú Unibanco Holding S.A. has a 52 week low of $4.85 and a 52 week high of $7.27.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Monday, February 5th. The bank reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Itaú Unibanco had a return on equity of 17.76% and a net margin of 10.48%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $8.05 billion. As a group, analysts forecast that Itaú Unibanco Holding S.A. will post 0.82 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be paid a dividend of $0.003 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.04 annualized dividend and a yield of 0.57%. Itaú Unibanco’s dividend payout ratio is 5.88%.

Wall Street Analyst Weigh In

ITUB has been the topic of several recent research reports. Bank of America upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, January 16th. HSBC lowered Itaú Unibanco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th.

About Itaú 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.