Itau Unibanco Holding S.A. (NYSE:ITUB) Holdings Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) by 21.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,890 shares of the bank’s stock after buying an additional 2,468 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Itau Unibanco were worth $76,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Itau Unibanco by 29.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,562 shares of the bank’s stock valued at $141,000 after purchasing an additional 5,743 shares during the period. TT International Asset Management LTD acquired a new position in shares of Itau Unibanco in the 1st quarter valued at $17,826,000. INCA Investments LLC boosted its position in shares of Itau Unibanco by 10.0% in the 1st quarter. INCA Investments LLC now owns 1,247,501 shares of the bank’s stock valued at $6,861,000 after purchasing an additional 113,409 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Itau Unibanco by 57.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 64,009 shares of the bank’s stock valued at $352,000 after purchasing an additional 23,402 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Itau Unibanco by 15.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,215,961 shares of the bank’s stock valued at $6,688,000 after purchasing an additional 163,899 shares during the period.

Wall Street Analysts Forecast Growth

Separately, UBS Group reiterated a “neutral” rating on shares of Itau Unibanco in a research report on Thursday, July 10th.

Itau Unibanco Stock Up 0.3%

Shares of Itau Unibanco stock opened at $6.85 on Monday. The stock has a 50-day moving average price of $6.55 and a 200 day moving average price of $6.00. The company has a market cap of $73.85 billion, a P/E ratio of 9.71, a P/E/G ratio of 1.06 and a beta of 0.74. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 2.39. Itau Unibanco Holding S.A. has a 1 year low of $4.42 and a 1 year high of $6.95.

Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $44.75 billion. Itau Unibanco had a return on equity of 19.48% and a net margin of 14.05%. As a group, analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a $0.0024 dividend. This represents a yield of 43.0%. The ex-dividend date of this dividend was Wednesday, July 2nd. Itau Unibanco’s dividend payout ratio is currently 4.23%.

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.