Commerzbank Aktiengesellschaft FI increased its position in Itau Unibanco Holding SA (NYSE:ITUB) by 284.0% in the second quarter, HoldingsChannel.com reports. The firm owned 257,348 shares of the bank’s stock after purchasing an additional 190,324 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Itau Unibanco were worth $2,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITUB. OppenheimerFunds Inc. lifted its stake in shares of Itau Unibanco by 261.9% in the 1st quarter. OppenheimerFunds Inc. now owns 19,881,247 shares of the bank’s stock valued at $310,147,000 after purchasing an additional 14,387,740 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Itau Unibanco by 31.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,323,002 shares of the bank’s stock valued at $161,006,000 after purchasing an additional 2,489,673 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Itau Unibanco by 7.8% in the 2nd quarter. Baillie Gifford & Co. now owns 28,203,732 shares of the bank’s stock valued at $292,755,000 after purchasing an additional 2,036,391 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Itau Unibanco by 397.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,509,312 shares of the bank’s stock valued at $26,046,000 after purchasing an additional 2,004,515 shares during the period. Finally, Menora Mivtachim Holdings LTD. purchased a new position in shares of Itau Unibanco in the 2nd quarter valued at approximately $16,089,000. Institutional investors own 5.44% of the company’s stock.

A number of research analysts have issued reports on the company. ValuEngine cut Itau Unibanco from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 22nd. Zacks Investment Research cut Itau Unibanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 19th. Finally, Citigroup upgraded Itau Unibanco from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.50.

Shares of NYSE:ITUB opened at $9.96 on Wednesday. The firm has a market cap of $67.86 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 0.97 and a beta of 1.73. Itau Unibanco Holding SA has a 12-month low of $9.89 and a 12-month high of $16.98. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.35 and a quick ratio of 1.35.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Tuesday, July 31st. The bank reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Itau Unibanco had a net margin of 17.21% and a return on equity of 16.67%. research analysts anticipate that Itau Unibanco Holding SA will post 1.07 EPS for the current year.

The business also recently disclosed a special dividend, which will be paid on Thursday, October 11th. Shareholders of record on Wednesday, September 5th will be paid a dividend of $0.0039 per share. This represents a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, September 4th. Itau Unibanco’s payout ratio is 29.82%.

Itau Unibanco Profile

Ita├║ Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.

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Institutional Ownership by Quarter for Itau Unibanco (NYSE:ITUB)

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