Hsbc Holdings PLC Raises Holdings in Itau Unibanco Holding S.A. $ITUB

Hsbc Holdings PLC grew its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,968,641 shares of the bank’s stock after buying an additional 130,998 shares during the quarter. Hsbc Holdings PLC’s holdings in Itau Unibanco were worth $35,557,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. GQG Partners LLC lifted its holdings in shares of Itau Unibanco by 6.3% during the fourth quarter. GQG Partners LLC now owns 96,959,405 shares of the bank’s stock valued at $694,229,000 after purchasing an additional 5,737,696 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after buying an additional 43,153,787 shares in the last quarter. Schroder Investment Management Group raised its position in Itau Unibanco by 4.9% in the 3rd quarter. Schroder Investment Management Group now owns 74,529,975 shares of the bank’s stock worth $546,305,000 after buying an additional 3,511,303 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Itau Unibanco by 3.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 63,525,566 shares of the bank’s stock worth $454,843,000 after buying an additional 2,394,121 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Itau Unibanco by 1.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 58,581,150 shares of the bank’s stock valued at $419,441,000 after acquiring an additional 956,962 shares during the period.

Insider Transactions at Itau Unibanco

In other news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total value of $1,612,296.00. Following the transaction, the insider owned 1,637,511 shares in the company, valued at $14,442,847.02. This represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fajerman Sergio Guillinet sold 39,477 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $9.53, for a total transaction of $376,215.81. Following the completion of the transaction, the insider directly owned 1,205,642 shares in the company, valued at approximately $11,489,768.26. The trade was a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 292,277 shares of company stock valued at $2,646,512. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITUB. Zacks Research downgraded shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Itau Unibanco currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Itau Unibanco Stock Performance

ITUB stock opened at $7.95 on Wednesday. The company has a market cap of $88.06 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. Itau Unibanco Holding S.A. has a 1 year low of $5.93 and a 1 year high of $9.60. 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 stock’s fifty day moving average price is $8.23 and its 200-day moving average price is $8.15.

Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Tuesday, May 5th. The bank reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The firm had revenue of $9.01 billion for 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, equities analysts forecast that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current year.

Itau Unibanco Dividend Announcement

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

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.