Madison Asset Management LLC Makes New Investment in Itau Unibanco Holding S.A. $ITUB

Madison Asset Management LLC bought a new stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 280,063 shares of the bank’s stock, valued at approximately $2,288,000.

Several other hedge funds have also made changes to their positions in the company. Huntington National Bank increased its stake in shares of Itau Unibanco by 11.1% during the fourth quarter. Huntington National Bank now owns 10,895 shares of the bank’s stock valued at $78,000 after buying an additional 1,092 shares during the period. Gould Asset Management LLC CA raised its holdings in shares of Itau Unibanco by 3.0% in the fourth quarter. Gould Asset Management LLC CA now owns 40,777 shares of the bank’s stock valued at $292,000 after acquiring an additional 1,187 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Itau Unibanco by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank’s stock worth $79,000 after acquiring an additional 1,306 shares during the period. Knights of Columbus Asset Advisors LLC lifted its stake in Itau Unibanco by 3.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 46,666 shares of the bank’s stock worth $334,000 after acquiring an additional 1,357 shares during the period. Finally, Stephens Inc. AR grew its holdings in Itau Unibanco by 3.7% during the 1st quarter. Stephens Inc. AR now owns 40,445 shares of the bank’s stock worth $339,000 after acquiring an additional 1,433 shares in the last quarter.

Insider Activity at Itau Unibanco

In other news, insider Vanzo Carlos Orestes sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the sale, the insider directly owned 1,008,014 shares in the company, valued at approximately $8,306,035.36. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Itau Unibanco Trading Down 2.4%

Shares of NYSE:ITUB opened at $7.19 on Friday. The company has a market capitalization of $79.64 billion, a PE ratio of 9.41, a P/E/G ratio of 0.80 and a beta of 0.58. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 2.44. Itau Unibanco Holding S.A. has a 12-month low of $6.39 and a 12-month high of $9.60. The business’s fifty day simple moving average is $8.06 and its 200-day simple moving average is $8.33.

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 analysts’ consensus estimates of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.29 billion. As a group, equities research analysts predict that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current fiscal 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 given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s dividend payout ratio is presently 3.95%.

Wall Street Analysts Forecast Growth

ITUB has been the topic of a number of research reports. Weiss Ratings downgraded shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Itau Unibanco has a consensus rating of “Moderate Buy” and an average target price 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.