Capital Growth Management LP grew its position in Itau Unibanco Holding SA (NYSE:ITUB) by 71.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,580,000 shares of the bank’s stock after acquiring an additional 2,330,000 shares during the period. Itau Unibanco comprises about 3.0% of Capital Growth Management LP’s portfolio, making the stock its 6th largest holding. Capital Growth Management LP’s holdings in Itau Unibanco were worth $72,540,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in ITUB. Harding Loevner LP grew its position in shares of Itau Unibanco by 225.1% in the 3rd quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock valued at $774,895,000 after acquiring an additional 133,670,409 shares during the period. Mondrian Investment Partners LTD bought a new position in shares of Itau Unibanco in the 3rd quarter valued at about $235,563,000. Fisher Asset Management LLC grew its position in shares of Itau Unibanco by 62.9% in the 3rd quarter. Fisher Asset Management LLC now owns 19,361,308 shares of the bank’s stock valued at $265,250,000 after acquiring an additional 7,472,507 shares during the period. Baillie Gifford & Co. grew its position in shares of Itau Unibanco by 21.3% in the 3rd quarter. Baillie Gifford & Co. now owns 28,091,190 shares of the bank’s stock valued at $384,849,000 after acquiring an additional 4,924,628 shares during the period. Finally, Barings LLC bought a new position in shares of Itau Unibanco in the 4th quarter valued at about $31,194,000. 4.81% of the stock is owned by institutional investors.
Shares of Itau Unibanco Holding SA (ITUB) opened at $15.64 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.66 and a current ratio of 1.64. The stock has a market cap of $105,961.63, a PE ratio of 13.60, a PEG ratio of 1.76 and a beta of 1.79. Itau Unibanco Holding SA has a 12 month low of $10.02 and a 12 month high of $16.98.
The business also recently announced a monthly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Friday, March 2nd will be paid a dividend of $0.0046 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Thursday, March 1st. Itau Unibanco’s dividend payout ratio is presently 5.22%.
Itau Unibanco announced that its board has initiated a share repurchase program on Monday, December 18th that authorizes the company to buyback 28,620,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of analysts have recently issued reports on ITUB shares. Zacks Investment Research cut shares of Itau Unibanco from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. ValuEngine upgraded shares of Itau Unibanco from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. BidaskClub cut shares of Itau Unibanco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, Deutsche Bank upgraded shares of Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.25.
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Itau Unibanco Profile
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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