NewEdge Wealth LLC Invests $244,000 in Itaú Unibanco Holding S.A. (NYSE:ITUB)

NewEdge Wealth LLC acquired a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 35,112 shares of the bank’s stock, valued at approximately $244,000.

Several other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC lifted its position in shares of Itaú Unibanco by 4.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 40,389 shares of the bank’s stock worth $281,000 after purchasing an additional 1,584 shares during the last quarter. PDS Planning Inc lifted its position in Itaú Unibanco by 18.6% in the third quarter. PDS Planning Inc now owns 12,652 shares of the bank’s stock valued at $68,000 after acquiring an additional 1,984 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in Itaú Unibanco by 2.5% in the first quarter. HBK Sorce Advisory LLC now owns 82,302 shares of the bank’s stock valued at $601,000 after acquiring an additional 2,000 shares during the last quarter. Schechter Investment Advisors LLC lifted its position in Itaú Unibanco by 13.9% in the fourth quarter. Schechter Investment Advisors LLC now owns 17,654 shares of the bank’s stock valued at $123,000 after acquiring an additional 2,152 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Itaú Unibanco by 3.3% in the third quarter. Cubist Systematic Strategies LLC now owns 74,417 shares of the bank’s stock valued at $385,000 after acquiring an additional 2,347 shares during the last quarter.

Itaú Unibanco Price Performance

Shares of NYSE:ITUB opened at $6.03 on Friday. The company has a 50-day simple moving average of $6.77 and a 200-day simple moving average of $6.42. Itaú Unibanco Holding S.A. has a one year low of $4.85 and a one year high of $7.27. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25.

Itaú Unibanco (NYSE:ITUB) last announced its earnings results on Monday, February 5th. The bank reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Itaú Unibanco had a net margin of 10.48% and a return on equity of 17.76%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $8.05 billion. As a group, equities research analysts forecast that Itaú Unibanco Holding S.A. will post 0.82 EPS for the current year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 3rd will be issued a $0.003 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.60%. Itaú Unibanco’s payout ratio is 5.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Tuesday, January 16th. HSBC cut shares of Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

About Itaú Unibanco

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.