Itaú Unibanco Holding S.A. (NYSE:ITUB) Stock Position Increased by Driehaus Capital Management LLC

Driehaus Capital Management LLC increased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 77.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,114,571 shares of the bank’s stock after acquiring an additional 3,106,130 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.07% of Itaú Unibanco worth $41,549,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Thornburg Investment Management Inc. grew its position in Itaú Unibanco by 0.9% during the 2nd quarter. Thornburg Investment Management Inc. now owns 183,245 shares of the bank’s stock worth $1,084,000 after purchasing an additional 1,664 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Itaú Unibanco by 67.0% in the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,755 shares during the period. Trillium Asset Management LLC lifted its position in shares of Itaú Unibanco by 0.5% in the first quarter. Trillium Asset Management LLC now owns 873,603 shares of the bank’s stock worth $6,054,000 after purchasing an additional 4,102 shares in the last quarter. Renaissance Group LLC boosted its holdings in shares of Itaú Unibanco by 0.4% during the first quarter. Renaissance Group LLC now owns 1,205,760 shares of the bank’s stock worth $8,356,000 after purchasing an additional 4,273 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Itaú Unibanco by 571.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,888 shares of the bank’s stock valued at $48,000 after purchasing an additional 5,862 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ITUB. 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 downgraded Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd. Three 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, the company currently has a consensus rating of “Hold” and a consensus target price of $7.05.

Itaú Unibanco Stock Performance

Shares of NYSE ITUB opened at $6.78 on Friday. The business’s 50-day moving average price is $6.46 and its two-hundred day moving average price is $6.34. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.07 and a quick ratio of 1.07. Itaú Unibanco Holding S.A. has a one year low of $5.12 and a one year high of $7.27. The company has a market capitalization of $66.40 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97.

Itaú Unibanco (NYSE:ITUB) last issued its earnings results on Tuesday, August 6th. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $16.54 billion for the quarter, compared to the consensus estimate of $7.72 billion. Itaú Unibanco had a return on equity of 19.14% and a net margin of 11.39%. During the same quarter in the previous year, the company posted $0.18 earnings per share. Analysts anticipate that Itaú Unibanco Holding S.A. will post 0.78 earnings per share for the current fiscal year.

Itaú Unibanco Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.0031 per share. The ex-dividend date is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio (DPR) 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.