GQG Partners LLC Buys 2,302,211 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

GQG Partners LLC raised its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 33.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,269,375 shares of the bank’s stock after acquiring an additional 2,302,211 shares during the period. GQG Partners LLC owned about 0.09% of Itaú Unibanco worth $45,976,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ITUB. Metis Global Partners LLC grew its holdings in shares of Itaú Unibanco by 7.4% in the fourth quarter. Metis Global Partners LLC now owns 27,876 shares of the bank’s stock valued at $138,000 after acquiring an additional 1,925 shares in the last quarter. Fielder Capital Group LLC grew its stake in Itaú Unibanco by 13.2% in the 4th quarter. Fielder Capital Group LLC now owns 17,106 shares of the bank’s stock valued at $85,000 after purchasing an additional 2,001 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Itaú Unibanco by 16.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,556 shares of the bank’s stock valued at $103,000 after purchasing an additional 2,250 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Itaú Unibanco by 18.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank’s stock worth $98,000 after purchasing an additional 3,089 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Itaú Unibanco by 8.2% in the 4th quarter. Spire Wealth Management now owns 44,738 shares of the bank’s stock worth $222,000 after buying an additional 3,405 shares during the last quarter.

Itaú Unibanco Price Performance

NYSE ITUB opened at $5.61 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The company has a market cap of $60.43 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 52 week low of $4.42 and a 52 week high of $6.35. The firm’s 50-day simple moving average is $5.23 and its two-hundred day simple moving average is $5.31.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. Research analysts predict that Itaú Unibanco Holding S.A. will post 0.8 earnings per share for the current year.

Itaú Unibanco Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a $0.0527 dividend. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date was Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is presently 2.82%.

Analysts Set New Price Targets

Several analysts have commented on ITUB shares. HSBC raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 price objective on the stock in a research report on Monday, January 13th. UBS Group raised shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Finally, Hsbc Global Res upgraded Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.27.

Itaú 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.