Mirabaud Asset Management Ltd Buys New Position in Itau Unibanco Holding S.A. $ITUB

Mirabaud Asset Management Ltd bought a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 172,365 shares of the bank’s stock, valued at approximately $1,234,000.

Several other institutional investors have also added to or reduced their stakes in ITUB. New York State Common Retirement Fund lifted its stake in Itau Unibanco by 18.6% in the third quarter. New York State Common Retirement Fund now owns 6,868,048 shares of the bank’s stock valued at $50,411,000 after buying an additional 1,079,178 shares during the period. JPMorgan Chase & Co. lifted its stake in Itau Unibanco by 0.9% in the third quarter. JPMorgan Chase & Co. now owns 41,387,090 shares of the bank’s stock valued at $303,781,000 after buying an additional 369,474 shares during the period. Todd Asset Management LLC lifted its stake in Itau Unibanco by 5.3% in the third quarter. Todd Asset Management LLC now owns 6,162,981 shares of the bank’s stock valued at $45,236,000 after buying an additional 311,472 shares during the period. Seafarer Capital Partners LLC lifted its stake in Itau Unibanco by 3.0% in the fourth quarter. Seafarer Capital Partners LLC now owns 10,909,142 shares of the bank’s stock valued at $78,109,000 after buying an additional 317,742 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Itau Unibanco by 8.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 3,725,339 shares of the bank’s stock valued at $27,344,000 after buying an additional 286,200 shares during the period.

Itau Unibanco Price Performance

Shares of NYSE:ITUB opened at $8.38 on Monday. The company has a quick ratio of 8.79, a current ratio of 8.79 and a debt-to-equity ratio of 2.61. Itau Unibanco Holding S.A. has a twelve month low of $5.93 and a twelve month high of $9.60. The stock’s 50 day moving average is $8.58 and its 200-day moving average is $8.01. The firm has a market capitalization of $92.76 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.89 and a beta of 0.63.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Itau Unibanco had a return on equity of 29.45% and a net margin of 27.27%.The firm had revenue of $9.01 billion for the quarter, compared to analyst estimates of $9.41 billion. Sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.9 EPS for the current fiscal year.

Itau Unibanco Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s dividend payout ratio is presently 4.11%.

Insider Buying and Selling

In other news, insider Fajerman Sergio Guillinet sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $9.38, for a total transaction of $469,000.00. Following the transaction, the insider directly owned 1,265,119 shares of the company’s stock, valued at $11,866,816.22. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $8.82, for a total value of $1,612,296.00. Following the transaction, the insider directly owned 1,637,511 shares in the company, valued at $14,442,847.02. The trade was a 10.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 292,277 shares of company stock worth $2,646,512 over the last ninety days. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ITUB shares. Zacks Research lowered Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. boosted their price target on Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Itau Unibanco presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

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.