Park Avenue Securities LLC Invests $69,000 in Itau Unibanco Holding S.A. $ITUB

Park Avenue Securities LLC acquired a new position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, HoldingsChannel reports. The institutional investor acquired 10,232 shares of the bank’s stock, valued at approximately $69,000.

Several other institutional investors have also made changes to their positions in the stock. GQG Partners LLC boosted its stake in shares of Itau Unibanco by 738.6% in the first quarter. GQG Partners LLC now owns 77,734,889 shares of the bank’s stock valued at $427,542,000 after buying an additional 68,465,514 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Itau Unibanco by 5.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 41,964,629 shares of the bank’s stock valued at $230,805,000 after purchasing an additional 2,306,414 shares during the period. Orbis Allan Gray Ltd acquired a new stake in Itau Unibanco in the first quarter valued at $227,646,000. Vanguard Group Inc. grew its holdings in Itau Unibanco by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank’s stock worth $135,260,000 after acquiring an additional 1,549,003 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in Itau Unibanco by 22.5% during the 1st quarter. Itau Unibanco Holding S.A. now owns 21,455,970 shares of the bank’s stock worth $114,602,000 after acquiring an additional 3,937,238 shares during the period.

Itau Unibanco Trading Down 1.0%

Shares of ITUB stock opened at $7.12 on Friday. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.45. The firm has a market cap of $76.71 billion, a P/E ratio of 10.09, a PEG ratio of 1.07 and a beta of 0.84. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. The company has a 50 day moving average of $6.93 and a 200-day moving average of $6.48.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. Sell-side analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were issued a $0.0454 dividend. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00. Itau Unibanco’s payout ratio is 4.23%.

Analysts Set New Price Targets

Separately, UBS Group reissued a “neutral” rating on shares of Itau Unibanco in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.27.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.