Aragon Global Management LP Takes $1.22 Million Position in Itau Unibanco Holding S.A. $ITUB

Aragon Global Management LP acquired a new stake in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 165,700 shares of the bank’s stock, valued at approximately $1,216,000.

Several other institutional investors have also made changes to their positions in the company. Dodge & Cox grew its position in Itau Unibanco by 5.4% during the third quarter. Dodge & Cox now owns 18,622,215 shares of the bank’s stock valued at $136,687,000 after purchasing an additional 946,400 shares in the last quarter. Boston Partners boosted its stake in shares of Itau Unibanco by 1,667.7% during the 3rd quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock valued at $91,117,000 after buying an additional 11,711,487 shares during the period. Limestone Investment Advisors LP purchased a new position in Itau Unibanco in the third quarter valued at about $1,359,000. Vise Technologies Inc. raised its position in Itau Unibanco by 6.6% during the third quarter. Vise Technologies Inc. now owns 115,548 shares of the bank’s stock valued at $848,000 after acquiring an additional 7,106 shares in the last quarter. Finally, Oaktree Capital Management LP lifted its stake in Itau Unibanco by 15.1% in the third quarter. Oaktree Capital Management LP now owns 12,665,801 shares of the bank’s stock valued at $92,967,000 after acquiring an additional 1,661,307 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Itau Unibanco Price Performance

ITUB stock opened at $7.98 on Friday. The company’s 50-day moving average price is $8.46 and its two-hundred day moving average price is $7.55. The firm has a market cap of $88.33 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.89 and a beta of 0.63. The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of 2.61. Itau Unibanco Holding S.A. has a 12 month low of $4.97 and a 12 month high of $9.60.

Itau Unibanco (NYSE:ITUB) last issued its quarterly 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 return on equity of 20.83% and a net margin of 20.64%.The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.98 billion. On average, analysts anticipate that Itau Unibanco Holding S.A. will post 0.8 earnings per share for the current fiscal year.

Itau Unibanco Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, March 23rd will be issued a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, March 23rd. Itau Unibanco’s payout ratio is presently 4.29%.

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.