Bank of New York Mellon Corp Purchases 35,994 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Bank of New York Mellon Corp lifted its stake in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,646 shares of the bank’s stock after purchasing an additional 35,994 shares during the quarter. Bank of New York Mellon Corp’s holdings in Itaú Unibanco were worth $832,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ITUB. Union Bancaire Privee UBP SA bought a new stake in Itaú Unibanco in the 4th quarter worth about $100,000. Vontobel Holding Ltd. lifted its position in Itaú Unibanco by 38.3% during the fourth quarter. Vontobel Holding Ltd. now owns 23,478 shares of the bank’s stock valued at $116,000 after purchasing an additional 6,501 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Itaú Unibanco by 18.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,819 shares of the bank’s stock valued at $98,000 after buying an additional 3,089 shares in the last quarter. Deltec Asset Management LLC lifted its stake in Itaú Unibanco by 73.7% in the fourth quarter. Deltec Asset Management LLC now owns 115,500 shares of the bank’s stock worth $573,000 after purchasing an additional 49,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Itaú Unibanco by 2.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,027,679 shares of the bank’s stock worth $5,501,000 after buying an additional 27,318 shares during the period.

Itaú Unibanco Stock Up 1.8 %

Shares of NYSE ITUB opened at $5.69 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.75 and a debt-to-equity ratio of 2.32. Itaú Unibanco Holding S.A. has a 12-month low of $4.42 and a 12-month high of $6.35. The stock has a market capitalization of $61.34 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of 0.89 and a beta of 0.97. The firm’s 50-day moving average price is $5.25 and its 200-day moving average price is $5.31.

Itaú Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Thursday, February 6th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Itaú Unibanco had a return on equity of 19.46% and a net margin of 12.25%. On average, equities research analysts anticipate that Itaú Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itaú Unibanco Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were given a dividend of $0.0527 per share. This is a boost from Itaú Unibanco’s previous dividend of $0.00. The ex-dividend date was Wednesday, February 19th. Itaú Unibanco’s dividend payout ratio (DPR) is currently 2.82%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ITUB shares. HSBC raised shares of Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.18 price target for the company in a research note on Monday, January 13th. UBS Group upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Itaú Unibanco to a “strong-buy” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Itaú Unibanco currently has a consensus rating of “Buy” and an average target price of $6.27.

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.