Itau Unibanco Holding S.A. $ITUB Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 990,000 shares of the bank’s stock after acquiring an additional 129,149 shares during the quarter. Handelsbanken Fonder AB’s holdings in Itau Unibanco were worth $8,088,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Itau Unibanco by 11.7% during the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock worth $2,450,000 after purchasing an additional 46,608 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Itau Unibanco by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock valued at $27,482,000 after buying an additional 1,107,607 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after buying an additional 5,355 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Itau Unibanco by 11.7% during the 2nd quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock worth $804,000 after buying an additional 12,442 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Itau Unibanco by 425.3% in the 2nd quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock worth $2,420,000 after acquiring an additional 288,602 shares in the last quarter.

Itau Unibanco Stock Down 0.9%

Itau Unibanco stock opened at $7.34 on Friday. The company has a 50-day simple moving average of $8.09 and a 200-day simple moving average of $8.38. The firm has a market capitalization of $81.27 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.80 and a beta of 0.58. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.79 and a current ratio of 1.79. Itau Unibanco Holding S.A. has a one year low of $6.39 and a one year high of $9.60.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $9.27 billion during 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 22.01%. As a group, equities analysts expect that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

Itau Unibanco Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s payout ratio is 3.95%.

Insider Activity

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the business’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 transaction, the insider directly owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

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

Itau Unibanco Company 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.