GAMMA Investing LLC Grows Stock Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

GAMMA Investing LLC lifted its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 67.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,375 shares of the bank’s stock after purchasing an additional 1,755 shares during the period. GAMMA Investing LLC’s holdings in Itaú Unibanco were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITUB. Bruce G. Allen Investments LLC purchased a new stake in Itaú Unibanco during the 4th quarter worth about $36,000. National Bank of Canada FI lifted its holdings in Itaú Unibanco by 20,555.6% during the 4th quarter. National Bank of Canada FI now owns 7,436 shares of the bank’s stock worth $51,000 after buying an additional 7,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Itaú Unibanco by 54.0% during the 4th 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. Sunpointe LLC purchased a new stake in Itaú Unibanco during the 4th quarter worth about $72,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Itaú Unibanco during the 4th quarter worth about $74,000.

Analysts Set New Price Targets

Separately, Morgan Stanley raised Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a report on Monday, June 17th.

Itaú Unibanco Stock Down 1.4 %

ITUB opened at $5.88 on Thursday. The business’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $6.55. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.54 and a current ratio of 1.54. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27. The stock has a market capitalization of $57.58 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 0.74 and a beta of 0.98.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Monday, May 6th. The bank reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. Itaú Unibanco had a return on equity of 18.73% and a net margin of 11.09%. The business had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Analysts anticipate that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current year.

Itaú Unibanco Increases Dividend

The business also recently declared a Variable dividend, which will be paid on Monday, September 9th. Investors of record on Monday, June 24th will be given a $0.0478 dividend. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from Itaú Unibanco’s previous Variable dividend of $0.00. Itaú Unibanco’s payout ratio is 51.35%.

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.