Allspring Global Investments Holdings LLC Boosts Holdings in Itau Unibanco Holding S.A. $ITUB

Allspring Global Investments Holdings LLC lifted its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,598 shares of the bank’s stock after purchasing an additional 4,036 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Itau Unibanco were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ITUB. Farther Finance Advisors LLC increased its stake in shares of Itau Unibanco by 3,590.6% in the 2nd 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. GAMMA Investing LLC increased its stake in shares of Itau Unibanco by 114.8% in the 2nd quarter. GAMMA Investing LLC now owns 9,667 shares of the bank’s stock worth $66,000 after acquiring an additional 5,167 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Itau Unibanco by 31.7% in the 2nd quarter. Parallel Advisors LLC now owns 10,195 shares of the bank’s stock worth $69,000 after acquiring an additional 2,455 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Itau Unibanco in the 2nd quarter worth about $69,000. Finally, Ieq Capital LLC bought a new position in shares of Itau Unibanco in the 1st quarter worth about $64,000.

Itau Unibanco Stock Down 0.5%

NYSE:ITUB opened at $7.07 on Monday. The firm has a market cap of $76.17 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.05 and a beta of 0.84. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.59 and a current ratio of 1.59. Itau Unibanco Holding S.A. has a fifty-two week low of $4.42 and a fifty-two week high of $7.45. The firm has a 50-day simple moving average of $7.04 and a two-hundred day simple moving average of $6.65.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, August 5th. The bank reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $44.75 billion. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. Analysts predict that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Increases Dividend

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

Analyst Ratings Changes

ITUB has been the subject of several research reports. Zacks Research upgraded shares of Itau Unibanco from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Itau Unibanco in a research note on Saturday. Finally, UBS Group reiterated a “neutral” rating on shares of Itau Unibanco in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.27.

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.