M&T Bank Corp Buys Shares of 74,468 Itau Unibanco Holding S.A. $ITUB

M&T Bank Corp bought a new stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 74,468 shares of the bank’s stock, valued at approximately $533,000.

Several other hedge funds have also recently added to or reduced their stakes in ITUB. Deltec Asset Management LLC increased its position in Itau Unibanco by 3.0% during the fourth quarter. Deltec Asset Management LLC now owns 137,658 shares of the bank’s stock worth $986,000 after buying an additional 4,008 shares in the last quarter. Sanctuary Advisors LLC increased its position in Itau Unibanco by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 167,208 shares of the bank’s stock worth $1,197,000 after buying an additional 7,935 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Itau Unibanco by 3.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 3,837,098 shares of the bank’s stock worth $27,473,000 after buying an additional 111,759 shares in the last quarter. Vanguard Group Inc. increased its position in Itau Unibanco by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 24,158,135 shares of the bank’s stock worth $172,972,000 after buying an additional 644,748 shares in the last quarter. Finally, Sava Infond d.o.o. increased its position in Itau Unibanco by 18.2% during the fourth quarter. Sava Infond d.o.o. now owns 148,217 shares of the bank’s stock worth $1,061,000 after buying an additional 22,817 shares in the last quarter.

Insider Buying and Selling

In related news, insider Fajerman Sergio Guillinet sold 39,477 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $9.53, for a total value of $376,215.81. Following the completion of the sale, the insider directly owned 1,205,642 shares in the company, valued at approximately $11,489,768.26. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 1,637,511 shares of the company’s stock, valued at approximately $14,442,847.02. This trade represents a 10.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 292,277 shares of company stock valued at $2,646,512. 0.61% of the stock is owned by insiders.

Itau Unibanco Price Performance

Shares of NYSE:ITUB opened at $8.11 on Wednesday. The company has a market cap of $89.77 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.89 and a beta of 0.63. 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 52 week low of $5.93 and a 52 week high of $9.60. The business has a fifty day simple moving average of $8.52 and a 200-day simple moving average of $8.03.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Itau Unibanco had a net margin of 27.27% and a return on equity of 29.45%. The company had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Equities research analysts forecast that Itau Unibanco Holding S.A. will post 0.88 EPS for the current year.

Itau Unibanco Dividend Announcement

The business 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 is Monday, March 23rd. Itau Unibanco’s payout ratio is presently 4.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ITUB shares. JPMorgan Chase & Co. lifted their price target on shares of Itau Unibanco from $8.00 to $9.00 and gave the stock an “overweight” rating in a report 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.