Arrowstreet Capital Limited Partnership Has $448.71 Million Stake in Itau Unibanco Holding S.A. $ITUB

Arrowstreet Capital Limited Partnership raised its holdings in Itau Unibanco Holding S.A. (NYSE:ITUB) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,131,445 shares of the bank’s stock after purchasing an additional 5,279,282 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.57% of Itau Unibanco worth $448,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ITUB. MAI Capital Management bought a new stake in shares of Itau Unibanco in the second quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its position in Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock worth $47,000 after buying an additional 5,355 shares in the last quarter. First Horizon Corp bought a new position in Itau Unibanco during the 3rd quarter worth $60,000. Park Avenue Securities LLC raised its holdings in Itau Unibanco by 17.5% in the 3rd quarter. Park Avenue Securities LLC now owns 12,022 shares of the bank’s stock valued at $88,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Mondrian Investment Partners LTD acquired a new position in Itau Unibanco in the 3rd quarter valued at $90,000.

Itau Unibanco Stock Down 4.2%

Shares of ITUB opened at $8.10 on Friday. The firm has a 50 day simple moving average of $8.44 and a two-hundred day simple moving average of $7.54. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.79 and a quick ratio of 1.58. Itau Unibanco Holding S.A. has a one year low of $4.97 and a one year high of $9.60. The company has a market cap of $89.66 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.92 and a beta of 0.63.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.98 billion. Research analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, March 23rd will be paid a $0.068 dividend. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s dividend payout ratio (DPR) is 4.29%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Zacks Research raised Itau Unibanco from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price target on Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Itau Unibanco currently has an average rating of “Buy” and a consensus target price of $9.00.

Itau Unibanco Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.