Westerkirk Capital Inc. Makes New $504,000 Investment in Itau Unibanco Holding S.A. $ITUB

Westerkirk Capital Inc. purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 74,183 shares of the bank’s stock, valued at approximately $504,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Itau Unibanco by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 24,592,740 shares of the bank’s stock worth $135,260,000 after acquiring an additional 1,549,003 shares during the last quarter. Banco Santander S.A. raised its holdings in shares of Itau Unibanco by 222.8% in the first quarter. Banco Santander S.A. now owns 155,795 shares of the bank’s stock valued at $857,000 after purchasing an additional 107,527 shares during the last quarter. Creative Planning lifted its position in shares of Itau Unibanco by 65.3% in the second quarter. Creative Planning now owns 161,847 shares of the bank’s stock worth $1,099,000 after purchasing an additional 63,920 shares in the last quarter. USS Investment Management Ltd lifted its position in shares of Itau Unibanco by 10.0% in the first quarter. USS Investment Management Ltd now owns 2,778,562 shares of the bank’s stock worth $15,268,000 after purchasing an additional 252,596 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Itau Unibanco by 3,590.6% during the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after purchasing an additional 4,201 shares during the last quarter.

Itau Unibanco Price Performance

NYSE:ITUB opened at $7.89 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.39. The stock’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $6.93. The firm has a market capitalization of $85.10 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.10 and a beta of 0.67. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $7.90.

Itau Unibanco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 29th. Stockholders of record on Thursday, December 11th will be paid a dividend of $0.3502 per share. The ex-dividend date is Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 53.2%. This is a boost from Itau Unibanco’s previous monthly dividend of $0.00. Itau Unibanco’s dividend payout ratio is 4.17%.

Analyst Ratings Changes

Several equities research analysts have commented on ITUB shares. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Itau Unibanco from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Finally, Zacks Research cut Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Itau Unibanco has an average rating of “Moderate Buy” and an average price target of $7.09.

Itau Unibanco Company Profile

Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.