Carrhae Capital LLP Cuts Holdings in Itau Unibanco Holding S.A. $ITUB

Carrhae Capital LLP reduced its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 52.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,643,006 shares of the bank’s stock after selling 10,800,127 shares during the period. Itau Unibanco makes up 2.1% of Carrhae Capital LLP’s holdings, making the stock its 11th largest position. Carrhae Capital LLP’s holdings in Itau Unibanco were worth $78,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in shares of Itau Unibanco in the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its stake in Itau Unibanco by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after acquiring an additional 5,355 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Itau Unibanco in the 1st quarter valued at $59,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Itau Unibanco by 486.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,966 shares of the bank’s stock valued at $66,000 after buying an additional 7,436 shares during the period. Finally, Syon Capital LLC purchased a new stake in shares of Itau Unibanco in the fourth quarter worth about $72,000.

Insider Buying and Selling

In related news, insider Vanzo Orestes sold 60,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.24, for a total transaction of $494,400.00. Following the completion of the transaction, the insider directly owned 1,008,014 shares of the company’s stock, valued at $8,306,035.36. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Itau Unibanco from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings lowered shares of Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Itau Unibanco Trading Up 1.8%

NYSE:ITUB traded up $0.14 on Tuesday, reaching $8.29. 24,858,234 shares of the company’s stock were exchanged, compared to its average volume of 23,971,240. The business has a fifty day moving average of $8.02 and a 200-day moving average of $8.22. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 2.44. Itau Unibanco Holding S.A. has a 52-week low of $6.54 and a 52-week high of $9.60. The firm has a market capitalization of $91.88 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, August 4th. The bank reported $0.21 earnings per share (EPS) 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 business had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.29 billion. As a group, analysts expect that Itau Unibanco Holding S.A. will post 0.88 earnings per share for the current year.

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.