ANTIPODES PARTNERS Ltd Cuts Stock Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

ANTIPODES PARTNERS Ltd cut its holdings in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 20.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,909,651 shares of the bank’s stock after selling 2,774,445 shares during the quarter. Itaú Unibanco accounts for approximately 2.3% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 20th biggest holding. ANTIPODES PARTNERS Ltd’s holdings in Itaú Unibanco were worth $63,712,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Itaú Unibanco by 54.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock worth $56,000 after buying an additional 2,838 shares during the last quarter. M&T Bank Corp purchased a new stake in Itaú Unibanco in the fourth quarter worth $93,000. National Bank of Canada FI raised its stake in shares of Itaú Unibanco by 20,555.6% in the fourth quarter. National Bank of Canada FI now owns 7,436 shares of the bank’s stock valued at $51,000 after buying an additional 7,400 shares during the period. Johnson Investment Counsel Inc. lifted its position in shares of Itaú Unibanco by 115.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 53,400 shares of the bank’s stock valued at $371,000 after buying an additional 28,600 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Itaú Unibanco during the 4th quarter valued at $85,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Morgan Stanley raised shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research report on Monday, June 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.05.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $6.74 on Friday. The stock has a fifty day moving average of $6.27 and a 200-day moving average of $6.37. The stock has a market cap of $66.06 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. Itaú Unibanco Holding S.A. has a fifty-two week low of $5.12 and a fifty-two week high of $7.27.

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

Itaú Unibanco Increases Dividend

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

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.