Mackenzie Financial Corp Invests $298,000 in Itau Unibanco Holding SA (ITUB) Stock
Mackenzie Financial Corp acquired a new position in shares of Itau Unibanco Holding SA (NYSE:ITUB) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 22,900 shares of the bank’s stock, valued at approximately $298,000.
Several other large investors have also added to or reduced their stakes in ITUB. Harding Loevner LP grew its stake in shares of Itau Unibanco by 225.1% in the third quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock worth $774,895,000 after purchasing an additional 133,670,409 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Itau Unibanco by 33.8% in the fourth quarter. Fisher Asset Management LLC now owns 25,914,919 shares of the bank’s stock worth $336,894,000 after purchasing an additional 6,553,611 shares in the last quarter. OppenheimerFunds Inc. bought a new position in shares of Itau Unibanco in the fourth quarter worth $71,415,000. Mondrian Investment Partners LTD grew its stake in shares of Itau Unibanco by 30.1% in the fourth quarter. Mondrian Investment Partners LTD now owns 22,372,140 shares of the bank’s stock worth $290,838,000 after purchasing an additional 5,177,751 shares in the last quarter. Finally, Standard Life Aberdeen plc bought a new position in shares of Itau Unibanco in the fourth quarter worth $63,589,000. 4.99% of the stock is owned by institutional investors.
Shares of Itau Unibanco Holding SA (NYSE ITUB) opened at $16.04 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.64 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $105,570.87, a price-to-earnings ratio of 14.10, a PEG ratio of 1.15 and a beta of 1.74. Itau Unibanco Holding SA has a twelve month low of $10.02 and a twelve month high of $16.98.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Friday, March 2nd will be issued a $0.0046 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.05 annualized dividend and a dividend yield of 0.34%. Itau Unibanco’s dividend payout ratio (DPR) is 4.35%.
Itau Unibanco announced that its Board of Directors has authorized a stock buyback plan on Monday, December 18th that permits the company to repurchase 28,620,000 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently issued reports on ITUB. ValuEngine raised Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Credit Suisse Group raised Itau Unibanco from a “neutral” rating to a “buy” rating in a research note on Monday, March 5th. Finally, Deutsche Bank raised Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $14.25.
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Itau Unibanco Company Profile
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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