Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,819 shares of the bank’s stock after purchasing an additional 3,089 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Itaú Unibanco were worth $98,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ITUB. FMR LLC boosted its position in Itaú Unibanco by 12,592.2% during the 3rd quarter. FMR LLC now owns 23,484,343 shares of the bank’s stock worth $156,171,000 after purchasing an additional 23,299,313 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Itaú Unibanco during the third quarter worth about $40,685,000. Fisher Asset Management LLC boosted its position in shares of Itaú Unibanco by 6.1% in the third quarter. Fisher Asset Management LLC now owns 50,587,633 shares of the bank’s stock worth $336,408,000 after buying an additional 2,886,508 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Itaú Unibanco by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 50,829,515 shares of the bank’s stock valued at $338,016,000 after buying an additional 2,604,304 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Itaú Unibanco by 38.8% during the 3rd quarter. Two Sigma Advisers LP now owns 6,367,875 shares of the bank’s stock valued at $42,346,000 after buying an additional 1,779,300 shares during the period.

Itaú Unibanco Stock Performance

Shares of ITUB opened at $5.64 on Thursday. The firm has a market cap of $55.23 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 0.89 and a beta of 0.95. The company has a quick ratio of 1.75, a current ratio of 1.34 and a debt-to-equity ratio of 2.32. The business’s 50 day moving average is $5.45 and its two-hundred day moving average is $5.95. Itaú Unibanco Holding S.A. has a 52-week low of $4.86 and a 52-week high of $7.07.

Itaú Unibanco (NYSE:ITUB) last posted its quarterly earnings results on Thursday, February 6th. The bank reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Itaú Unibanco had a net margin of 12.25% and a return on equity of 19.46%. Analysts forecast that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a $0.058 dividend. This is a positive change from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date of this dividend is Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is presently 2.56%.

Analysts Set New Price Targets

A number of research firms have weighed in on ITUB. UBS Group upgraded Itaú Unibanco from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Hsbc Global Res upgraded shares of Itaú Unibanco to a “strong-buy” rating in a research note on Monday, January 13th. HSBC raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.80 price target for the company in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Itaú Unibanco from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.90.

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.