PNC Financial Services Group Inc. Increases Stake in Itau Unibanco Holding S.A. (NYSE:ITUB)

PNC Financial Services Group Inc. boosted its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,362 shares of the bank’s stock after purchasing an additional 10,653 shares during the period. PNC Financial Services Group Inc.’s holdings in Itau Unibanco were worth $772,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ITUB. LPL Financial LLC increased its stake in Itau Unibanco by 27.6% in the 4th quarter. LPL Financial LLC now owns 373,234 shares of the bank’s stock worth $1,851,000 after purchasing an additional 80,747 shares during the period. Raymond James Financial Inc. purchased a new stake in Itau Unibanco in the 4th quarter worth approximately $1,918,000. Bessemer Group Inc. purchased a new stake in Itau Unibanco in the 4th quarter worth approximately $35,000. Sagespring Wealth Partners LLC purchased a new stake in Itau Unibanco in the 4th quarter worth approximately $67,000. Finally, XTX Topco Ltd purchased a new stake in Itau Unibanco in the 4th quarter worth approximately $898,000.

Wall Street Analyst Weigh In

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

Itau Unibanco Trading Up 0.1%

NYSE ITUB opened at $6.87 on Tuesday. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $6.95. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a 50 day simple moving average of $6.56 and a two-hundred day simple moving average of $6.01. The stock has a market cap of $74.01 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74.

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

Itau Unibanco Cuts Dividend

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

Itau 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.