Cullen Capital Management LLC Takes Position in Itau Unibanco Holding S.A. $ITUB

Cullen Capital Management LLC bought a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 675,383 shares of the bank’s stock, valued at approximately $4,586,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flputnam Investment Management Co. increased its holdings in shares of Itau Unibanco by 10.7% during the first quarter. Flputnam Investment Management Co. now owns 19,916 shares of the bank’s stock valued at $110,000 after acquiring an additional 1,930 shares in the last quarter. Hamilton Capital LLC increased its stake in Itau Unibanco by 15.5% during the 1st quarter. Hamilton Capital LLC now owns 16,081 shares of the bank’s stock valued at $88,000 after purchasing an additional 2,163 shares in the last quarter. Parallel Advisors LLC raised its holdings in Itau Unibanco by 31.7% during the second quarter. Parallel Advisors LLC now owns 10,195 shares of the bank’s stock worth $69,000 after buying an additional 2,455 shares during the last quarter. Alta Capital Management LLC lifted its stake in shares of Itau Unibanco by 24.3% in the second quarter. Alta Capital Management LLC now owns 14,025 shares of the bank’s stock valued at $95,000 after buying an additional 2,740 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Itau Unibanco by 4.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 63,599 shares of the bank’s stock valued at $432,000 after buying an additional 2,778 shares during the last quarter.

Analyst Ratings Changes

ITUB has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Itau Unibanco from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Itau Unibanco in a research note on Monday, December 8th. Finally, Zacks Research cut Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.09.

Itau Unibanco Price Performance

Shares of NYSE ITUB opened at $7.31 on Monday. The company has a market capitalization of $78.56 billion, a PE ratio of 10.11, a PEG ratio of 1.08 and a beta of 0.67. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.33. The stock’s 50 day moving average price is $7.37 and its 200-day moving average price is $6.98. Itau Unibanco Holding S.A. has a twelve month low of $4.42 and a twelve month high of $8.13.

Itau Unibanco Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Tuesday, June 2nd will be paid a $0.0033 dividend. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, June 2nd. Itau Unibanco’s dividend payout ratio is 526.39%.

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.