Millennium Management LLC Acquires 1,342,791 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Millennium Management LLC boosted its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 386.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,690,002 shares of the bank’s stock after buying an additional 1,342,791 shares during the quarter. Millennium Management LLC’s holdings in Itaú Unibanco were worth $8,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. purchased a new position in Itaú Unibanco during the fourth quarter valued at $71,054,000. Eagle Global Advisors LLC lifted its position in shares of Itaú Unibanco by 50.7% during the 4th quarter. Eagle Global Advisors LLC now owns 410,000 shares of the bank’s stock valued at $2,034,000 after buying an additional 138,000 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Itaú Unibanco by 0.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 1,795,485 shares of the bank’s stock valued at $8,906,000 after acquiring an additional 12,378 shares during the period. Cetera Investment Advisers increased its holdings in Itaú Unibanco by 15.6% in the 4th quarter. Cetera Investment Advisers now owns 31,215 shares of the bank’s stock worth $155,000 after acquiring an additional 4,218 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Itaú Unibanco by 311.4% during the 4th quarter. Bank of America Corp DE now owns 25,584,177 shares of the bank’s stock worth $126,898,000 after acquiring an additional 19,365,644 shares during the period.

Itaú Unibanco Stock Performance

ITUB opened at $6.67 on Monday. The company has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $5.36. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.34 and a quick ratio of 1.75. The firm has a market cap of $71.86 billion, a P/E ratio of 8.54, a PEG ratio of 0.89 and a beta of 0.76. Itaú Unibanco Holding S.A. has a 1-year low of $4.42 and a 1-year high of $6.85.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $43.07 billion. Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. Equities analysts forecast that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 6th will be given a dividend of $0.0024 per share. This represents a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, May 5th. Itaú Unibanco’s dividend payout ratio is currently 2.82%.

Itaú Unibanco 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.