Verition Fund Management LLC Acquires New Holdings in Itau Unibanco Holding SA (NYSE:ITUB)
Verition Fund Management LLC bought a new position in shares of Itau Unibanco Holding SA (NYSE:ITUB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,892 shares of the bank’s stock, valued at approximately $201,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG3 Management LLC acquired a new stake in Itau Unibanco during the 2nd quarter worth about $26,000. Evolution Wealth Advisors LLC acquired a new stake in Itau Unibanco during the 2nd quarter worth about $28,000. Credit Agricole S A grew its position in Itau Unibanco by 299.6% during the 1st quarter. Credit Agricole S A now owns 9,327 shares of the bank’s stock worth $42,000 after purchasing an additional 6,993 shares during the period. Iberiabank Corp acquired a new stake in Itau Unibanco during the 2nd quarter worth about $53,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in Itau Unibanco during the 2nd quarter worth about $54,000. 3.43% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on ITUB shares. Zacks Investment Research lowered Itau Unibanco from a “hold” rating to a “sell” rating and set a $5.50 price target for the company. in a research note on Monday, June 15th. ValuEngine cut shares of Itau Unibanco from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, Goldman Sachs Group downgraded shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.83.
Itau Unibanco (NYSE:ITUB) last posted its quarterly earnings data on Monday, August 3rd. The bank reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). Itau Unibanco had a net margin of 10.11% and a return on equity of 15.43%. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.57 billion. As a group, sell-side analysts predict that Itau Unibanco Holding SA will post 0.35 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.0025 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.67%. Itau Unibanco’s dividend payout ratio is currently 4.23%.
About Itau Unibanco
Itaú 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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