Park Avenue Securities LLC Makes New Investment in Itau Unibanco Holding S.A. $ITUB

Park Avenue Securities LLC bought a new position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,232 shares of the bank’s stock, valued at approximately $69,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in Itau Unibanco by 3,590.6% during the second quarter. Farther Finance Advisors LLC now owns 4,318 shares of the bank’s stock worth $29,000 after acquiring an additional 4,201 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Itau Unibanco by 707.1% during the first quarter. Parallel Advisors LLC now owns 7,740 shares of the bank’s stock worth $43,000 after acquiring an additional 6,781 shares in the last quarter. Alta Capital Management LLC bought a new position in Itau Unibanco during the first quarter worth about $62,000. Ieq Capital LLC bought a new position in Itau Unibanco during the first quarter worth about $64,000. Finally, Tuttle Capital Management LLC bought a new position in Itau Unibanco during the first quarter worth about $67,000.

Analyst Upgrades and Downgrades

Separately, UBS Group restated a “neutral” rating on shares of Itau Unibanco in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.27.

Itau Unibanco Price Performance

NYSE:ITUB opened at $7.12 on Friday. 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’s 50-day simple moving average is $6.93 and its 200 day simple moving average is $6.48. The company has a market cap of $76.71 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.07 and a beta of 0.84. Itau Unibanco Holding S.A. has a 52-week low of $4.42 and a 52-week high of $7.45.

Itau Unibanco (NYSE:ITUB) last released its earnings results on Tuesday, August 5th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $7.14 billion for 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, sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 8th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.0454 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. This is a boost from Itau Unibanco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, August 20th. Itau Unibanco’s dividend payout ratio (DPR) is presently 4.23%.

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.