Employees Retirement System of Texas Trims Stake in Itau Unibanco Holding S.A. $ITUB

Employees Retirement System of Texas cut its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 49.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 370,217 shares of the bank’s stock after selling 361,058 shares during the period. Employees Retirement System of Texas’ holdings in Itau Unibanco were worth $2,651,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ITUB. EverSource Wealth Advisors LLC increased its stake in shares of Itau Unibanco by 19.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 8,135 shares of the bank’s stock worth $58,000 after purchasing an additional 1,341 shares in the last quarter. Pekin Hardy Strauss Inc. grew its holdings in Itau Unibanco by 3.1% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 51,326 shares of the bank’s stock valued at $367,000 after purchasing an additional 1,521 shares during the period. HighTower Advisors LLC grew its holdings in Itau Unibanco by 6.3% during the fourth quarter. HighTower Advisors LLC now owns 29,924 shares of the bank’s stock valued at $214,000 after purchasing an additional 1,785 shares during the period. Farther Finance Advisors LLC increased its position in Itau Unibanco by 40.1% in the fourth quarter. Farther Finance Advisors LLC now owns 6,642 shares of the bank’s stock worth $48,000 after buying an additional 1,901 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Itau Unibanco by 3.0% in the fourth quarter. Yousif Capital Management LLC now owns 65,655 shares of the bank’s stock worth $489,000 after buying an additional 1,911 shares during the period.

Insider Buying and Selling at Itau Unibanco

In other Itau Unibanco news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction 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 completion of the transaction, the insider directly owned 1,637,511 shares of the company’s stock, valued at $14,442,847.02. This trade represents a 10.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Fajerman Sergio Guillinet sold 39,477 shares of the business’s stock in a transaction dated 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 sale, the insider owned 1,205,642 shares in the company, valued at approximately $11,489,768.26. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 292,277 shares of company stock worth $2,646,512 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Itau Unibanco Price Performance

NYSE:ITUB opened at $7.96 on Thursday. The business’s 50-day moving average is $8.42 and its 200 day moving average is $8.10. Itau Unibanco Holding S.A. has a 12 month low of $5.93 and a 12 month high of $9.60. The company has a market capitalization of $88.11 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.85 and a beta of 0.63. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 2.53.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). Itau Unibanco had a net margin of 27.27% and a return on equity of 21.27%. The firm had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $9.41 billion. On average, equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.89 earnings per share for the current fiscal year.

Itau Unibanco Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s dividend payout ratio (DPR) is 4.11%.

Wall Street Analyst Weigh In

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