SPX Gestao de Recursos Ltda Has $5.52 Million Holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB)

SPX Gestao de Recursos Ltda decreased its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 45.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 945,695 shares of the bank’s stock after selling 776,137 shares during the quarter. Itaú Unibanco comprises approximately 0.8% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 25th largest holding. SPX Gestao de Recursos Ltda’s holdings in Itaú Unibanco were worth $5,523,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Carmignac Gestion bought a new position in Itaú Unibanco in the fourth quarter worth approximately $92,644,000. Belpointe Asset Management LLC bought a new stake in shares of Itaú Unibanco in the 4th quarter worth $156,000. Pinebridge Investments L.P. lifted its position in shares of Itaú Unibanco by 18.4% during the fourth quarter. Pinebridge Investments L.P. now owns 2,082,557 shares of the bank’s stock valued at $14,469,000 after purchasing an additional 323,065 shares in the last quarter. Oaktree Capital Management LP boosted its holdings in Itaú Unibanco by 9.0% during the fourth quarter. Oaktree Capital Management LP now owns 9,174,072 shares of the bank’s stock worth $63,760,000 after purchasing an additional 761,034 shares during the last quarter. Finally, Oaktree Fund Advisors LLC increased its stake in Itaú Unibanco by 4.1% in the 4th quarter. Oaktree Fund Advisors LLC now owns 901,675 shares of the bank’s stock valued at $6,267,000 after buying an additional 35,333 shares during the last quarter.

Itaú Unibanco Stock Down 1.9 %

ITUB stock opened at $6.65 on Tuesday. The company’s 50 day moving average is $6.47 and its 200 day moving average is $6.33. The stock has a market cap of $65.18 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.84 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 Holding S.A. has a 1-year low of $5.12 and a 1-year high of $7.27.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Itaú Unibanco had a net margin of 11.39% and a return on equity of 19.14%. The firm had revenue of $16.54 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Sell-side analysts predict that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.0031 per share. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s payout ratio is 4.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ITUB shares. UBS Group downgraded shares of 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 report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.05.

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.