Constellation Investimentos e Participacoes Ltda Takes Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Constellation Investimentos e Participacoes Ltda purchased a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,304,100 shares of the bank’s stock, valued at approximately $7,616,000. Itaú Unibanco makes up 3.8% of Constellation Investimentos e Participacoes Ltda’s holdings, making the stock its 4th largest holding.

Other institutional investors also recently modified their holdings of the company. Fielder Capital Group LLC bought a new stake in Itaú Unibanco during the 2nd quarter worth about $88,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Itaú Unibanco by 1,451.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,732 shares of the bank’s stock valued at $1,353,000 after purchasing an additional 216,791 shares in the last quarter. Banco Santander S.A. lifted its holdings in Itaú Unibanco by 77.7% during the 2nd quarter. Banco Santander S.A. now owns 60,704 shares of the bank’s stock worth $355,000 after buying an additional 26,551 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Itaú Unibanco by 105.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 14,172 shares of the bank’s stock valued at $83,000 after buying an additional 7,284 shares during the last quarter. Finally, Wealth Advisory Solutions LLC acquired a new stake in shares of Itaú Unibanco in the 2nd quarter valued at $83,000.

Itaú Unibanco Stock Up 1.1 %

ITUB stock opened at $6.63 on Thursday. The company has a market cap of $64.93 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.34. Itaú Unibanco Holding S.A. has a 52 week low of $5.12 and a 52 week high of $7.27. The business has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $6.37.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $16.54 billion during the quarter, compared to analysts’ expectations of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same period in the prior year, the company earned $0.18 EPS. Sell-side analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The firm also recently declared a Variable dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, September 23rd will be given a $0.0485 dividend. This is a boost from Itaú Unibanco’s previous Variable dividend of $0.00. The ex-dividend date is Monday, September 23rd. Itaú Unibanco’s dividend payout ratio is 4.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on ITUB. UBS Group lowered Itaú Unibanco from a “buy” rating to a “neutral” rating in a research report on Thursday, August 22nd. Morgan Stanley upgraded Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Itaú Unibanco presently has a consensus rating of “Hold” and an average price target of $7.05.

Itaú Unibanco Company 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.