Allspring Global Investments Holdings LLC Acquires 5,743 Shares of Itau Unibanco Holding S.A. (NYSE:ITUB)

Allspring Global Investments Holdings LLC raised its holdings in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 29.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,562 shares of the bank’s stock after purchasing an additional 5,743 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Itau Unibanco were worth $141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Peapack Gladstone Financial Corp grew its holdings in shares of Itau Unibanco by 13.4% during the fourth quarter. Peapack Gladstone Financial Corp now owns 16,935 shares of the bank’s stock valued at $84,000 after buying an additional 2,000 shares during the last quarter. Union Bancaire Privee UBP SA grew its holdings in shares of Itau Unibanco by 10.0% during the first quarter. Union Bancaire Privee UBP SA now owns 22,000 shares of the bank’s stock valued at $121,000 after buying an additional 2,000 shares during the last quarter. Elevation Point Wealth Partners LLC grew its holdings in shares of Itau Unibanco by 26.7% during the first quarter. Elevation Point Wealth Partners LLC now owns 14,465 shares of the bank’s stock valued at $80,000 after buying an additional 3,050 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Itau Unibanco by 24.4% during the fourth quarter. Quadrant Capital Group LLC now owns 20,798 shares of the bank’s stock valued at $103,000 after buying an additional 4,083 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Itau Unibanco by 15.6% during the fourth quarter. Cetera Investment Advisers now owns 31,215 shares of the bank’s stock valued at $155,000 after buying an additional 4,218 shares during the last quarter.

Itau Unibanco Trading Down 1.1%

Shares of ITUB stock opened at $6.30 on Friday. Itau Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $6.95. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.43. The firm’s 50 day moving average is $6.61 and its 200 day moving average is $5.75. The stock has a market capitalization of $67.92 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.98 and a beta of 0.76.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, May 8th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Itau Unibanco had a net margin of 11.85% and a return on equity of 19.35%. The company had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $43.07 billion. Research analysts expect that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itau Unibanco Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $0.0024 dividend. This represents a yield of 0.43%. The ex-dividend date is Wednesday, July 2nd. Itau Unibanco’s dividend payout ratio is currently 4.23%.

Analyst Upgrades and Downgrades

Separately, UBS Group reiterated a “neutral” rating on shares of Itau Unibanco in a report on Thursday.

About Itau 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.