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

Allspring Global Investments Holdings LLC boosted its position in 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 quarter. Allspring Global Investments Holdings LLC’s holdings in Itau Unibanco were worth $141,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of Itau Unibanco during the fourth quarter valued at about $35,000. Parallel Advisors LLC increased its holdings in shares of Itau Unibanco by 707.1% during the first quarter. Parallel Advisors LLC now owns 7,740 shares of the bank’s stock valued at $43,000 after acquiring an additional 6,781 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Itau Unibanco by 4,000.3% during the fourth quarter. Signaturefd LLC now owns 12,260 shares of the bank’s stock valued at $61,000 after acquiring an additional 11,961 shares in the last quarter. Alta Capital Management LLC acquired a new position in shares of Itau Unibanco during the first quarter valued at about $62,000. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of Itau Unibanco during the fourth quarter valued at about $67,000.

Itau Unibanco Price Performance

Shares of NYSE ITUB opened at $6.30 on Friday. The business’s 50 day moving average price is $6.61 and its 200 day moving average price is $5.75. The firm has a market cap 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 Holding S.A. has a 52 week low of $4.42 and a 52 week high of $6.95. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.43.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, May 8th. The bank reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Itau Unibanco had a return on equity of 19.35% and a net margin of 11.85%. The firm had revenue of $7.93 billion for the quarter, compared to analyst estimates of $43.07 billion. On average, sell-side 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 disclosed a dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.0024 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a yield of 0.43%. Itau Unibanco’s dividend payout ratio is presently 4.23%.

Wall Street Analysts Forecast Growth

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

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.