Oaktree Capital Management LP Decreases Stake in Itau Unibanco Holding S.A. $ITUB

Oaktree Capital Management LP lessened its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 11.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,188,995 shares of the bank’s stock after selling 1,633,752 shares during the quarter. Itau Unibanco accounts for about 1.3% of Oaktree Capital Management LP’s investment portfolio, making the stock its 14th largest holding. Oaktree Capital Management LP’s holdings in Itau Unibanco were worth $102,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITUB. Arkadios Wealth Advisors purchased a new position in shares of Itau Unibanco in the 1st quarter valued at $364,000. Amundi increased its holdings in Itau Unibanco by 18.6% in the 1st quarter. Amundi now owns 4,002,998 shares of the bank’s stock valued at $33,545,000 after purchasing an additional 628,820 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Itau Unibanco by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,306 shares in the last quarter. Quantinno Capital Management LP raised its position in Itau Unibanco by 26.5% in the first quarter. Quantinno Capital Management LP now owns 280,094 shares of the bank’s stock valued at $2,347,000 after purchasing an additional 58,662 shares during the period. Finally, Lazard Asset Management LLC raised its position in Itau Unibanco by 1.1% in the first quarter. Lazard Asset Management LLC now owns 5,202,138 shares of the bank’s stock valued at $43,594,000 after purchasing an additional 58,133 shares during the period.

Analyst Ratings Changes

ITUB has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research report on Wednesday, June 17th. JPMorgan Chase & Co. boosted their price target on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Itau Unibanco has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Itau Unibanco Stock Performance

Itau Unibanco stock opened at $8.16 on Thursday. Itau Unibanco Holding S.A. has a 12-month low of $5.94 and a 12-month high of $9.60. The company has a market capitalization of $90.44 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s fifty day moving average price is $8.05 and its 200 day moving average price is $8.35.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The firm had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. On average, research analysts forecast that Itau Unibanco Holding S.A. will post 0.89 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, June 22nd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is currently 4.11%.

Insider Buying and Selling

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the sale, the insider owned 1,008,014 shares in the company, valued at $8,306,035.36. This trade represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.