Sagespring Wealth Partners LLC Boosts Stake in Itau Unibanco Holding S.A. $ITUB

Sagespring Wealth Partners LLC raised its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 48.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,537 shares of the bank’s stock after buying an additional 9,254 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Itau Unibanco were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Itau Unibanco by 29.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,562 shares of the bank’s stock worth $141,000 after buying an additional 5,743 shares in the last quarter. TT International Asset Management LTD purchased a new position in Itau Unibanco during the first quarter worth about $17,826,000. Vanguard Group Inc. boosted its holdings in shares of Itau Unibanco by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank’s stock worth $135,260,000 after purchasing an additional 1,549,003 shares in the last quarter. INCA Investments LLC boosted its holdings in shares of Itau Unibanco by 10.0% in the 1st quarter. INCA Investments LLC now owns 1,247,501 shares of the bank’s stock worth $6,861,000 after purchasing an additional 113,409 shares in the last quarter. Finally, Banco Santander S.A. boosted its holdings in shares of Itau Unibanco by 222.8% in the 1st quarter. Banco Santander S.A. now owns 155,795 shares of the bank’s stock worth $857,000 after purchasing an additional 107,527 shares in the last quarter.

Itau Unibanco Trading Up 1.2%

NYSE ITUB opened at $6.94 on Friday. Itau Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $7.45. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. The stock has a 50-day moving average of $7.03 and a 200-day moving average of $6.58. The firm has a market cap of $74.82 billion, a PE ratio of 9.84, 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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $44.75 billion. As a group, sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.

Itau Unibanco Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, September 8th. Stockholders of record on Wednesday, August 20th were paid a $0.0454 dividend. This is a boost from Itau Unibanco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. Itau Unibanco’s dividend payout ratio is presently 4.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITUB. Zacks Research upgraded Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Itau Unibanco in a report on Wednesday, October 8th. Finally, UBS Group reiterated a “neutral” rating on shares of Itau Unibanco in a report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Itau Unibanco has an average rating of “Buy” and an average target price of $6.27.

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.