Ramirez Asset Management Inc. Has $15.92 Million Stock Holdings in Itau Unibanco Holding S.A. $ITUB

Ramirez Asset Management Inc. raised its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,223,601 shares of the bank’s stock after purchasing an additional 77,679 shares during the quarter. Itau Unibanco makes up approximately 2.1% of Ramirez Asset Management Inc.’s portfolio, making the stock its 4th largest holding. Ramirez Asset Management Inc.’s holdings in Itau Unibanco were worth $15,921,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITUB. EverSource Wealth Advisors LLC lifted its holdings in Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after purchasing an additional 5,355 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Itau Unibanco by 40.1% during the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock valued at $48,000 after purchasing an additional 1,901 shares during the last quarter. Community Bank N.A. purchased a new stake in Itau Unibanco during the third quarter valued at about $57,000. Caitong International Asset Management Co. Ltd lifted its holdings in Itau Unibanco by 486.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after purchasing an additional 7,436 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Itau Unibanco during the fourth quarter valued at about $70,000.

Insider Activity

In other news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the sale, the insider directly owned 1,637,511 shares in the company, valued at $14,442,847.02. This represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Fajerman Sergio Guillinet sold 39,477 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $9.53, for a total value of $376,215.81. Following the sale, the insider owned 1,205,642 shares in the company, valued at approximately $11,489,768.26. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 292,277 shares of company stock worth $2,646,512. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

ITUB has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Itau Unibanco currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Itau Unibanco Trading Down 1.2%

Shares of ITUB opened at $7.55 on Friday. The business’s 50-day moving average price is $8.37 and its 200-day moving average price is $8.11. Itau Unibanco Holding S.A. has a twelve month low of $5.93 and a twelve month high of $9.60. The stock has a market cap of $83.57 billion, a PE ratio of 10.35, a P/E/G ratio of 0.82 and a beta of 0.59. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.53.

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

Itau Unibanco Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.068 per share. The ex-dividend date is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is currently 65.75%.

Itau Unibanco 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.