First Eagle Investment Management LLC Boosts Stake in Itaú Unibanco Holding S.A. (NYSE:ITUB)

First Eagle Investment Management LLC raised its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,509,424 shares of the bank’s stock after acquiring an additional 110,442 shares during the period. First Eagle Investment Management LLC’s holdings in Itaú Unibanco were worth $8,815,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ITUB. GAMMA Investing LLC increased its position in Itaú Unibanco by 67.0% during the first quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock worth $30,000 after purchasing an additional 1,755 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Itaú Unibanco by 571.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after acquiring an additional 5,862 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Itaú Unibanco in the first quarter valued at $49,000. Sunpointe LLC acquired a new position in shares of Itaú Unibanco in the 4th quarter valued at $72,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Itaú Unibanco during the 2nd quarter worth $65,000.

Analyst Upgrades and Downgrades

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

Itaú Unibanco Price Performance

ITUB opened at $6.71 on Friday. The stock’s 50-day moving average price is $6.41 and its 200 day moving average price is $6.35. Itaú Unibanco Holding S.A. has a 12-month low of $5.12 and a 12-month high of $7.27. The firm has a market cap of $65.76 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 0.85 and a beta of 0.97. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34.

Itaú Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Tuesday, August 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $16.54 billion for 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 last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts expect that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is presently 48.65%.

About Itaú Unibanco

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.