Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Banco BTG Pactual S.A.
Banco BTG Pactual S.A. cut its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB – Free Report) by 75.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,900 shares of the bank’s stock after selling 940,685 shares during the quarter. Itaú Unibanco comprises about 0.4% of Banco BTG Pactual S.A.’s investment portfolio, making the stock its 21st biggest position. Banco BTG Pactual S.A.’s holdings in Itaú Unibanco were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in Itaú Unibanco in the second quarter valued at about $30,000. Natixis purchased a new position in Itaú Unibanco in the fourth quarter valued at about $38,000. Penserra Capital Management LLC purchased a new position in Itaú Unibanco in the fourth quarter valued at about $41,000. Psagot Value Holdings Ltd. Israel purchased a new position in Itaú Unibanco in the first quarter valued at about $43,000. Finally, Eaton Vance Management raised its position in Itaú Unibanco by 35.9% in the first quarter. Eaton Vance Management now owns 11,245 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,971 shares during the period.
Itaú Unibanco Stock Down 0.2 %
Shares of NYSE ITUB traded down $0.01 during midday trading on Thursday, reaching $6.39. 3,641,464 shares of the company’s stock were exchanged, compared to its average volume of 22,378,633. Itaú Unibanco Holding S.A. has a 52-week low of $4.21 and a 52-week high of $6.49. The stock has a market capitalization of $62.62 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.58 and a current ratio of 1.58. The business’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $5.69.
Itaú Unibanco (NYSE:ITUB – Get Free Report) last posted its quarterly earnings results on Monday, November 6th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.01 billion. Itaú Unibanco had a return on equity of 17.41% and a net margin of 9.79%. Analysts forecast that Itaú Unibanco Holding S.A. will post 0.73 EPS for the current year.
Itaú Unibanco Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Friday, December 8th will be paid a $0.0505 dividend. This is an increase from Itaú Unibanco’s previous monthly dividend of $0.00. This represents a $0.61 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date is Thursday, December 7th. Itaú Unibanco’s payout ratio is presently 71.43%.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group began coverage on Itaú Unibanco in a research report on Monday, October 16th. They set a “hold” rating and a $6.10 target price on the stock.
Read Our Latest Research Report on ITUB
Itaú Unibanco Company Profile (Free Report)
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.
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Original: MarketBeat News Feed: Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Sold by Banco BTG Pactual S.A.