Vontobel Holding Ltd. Purchases New Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Vontobel Holding Ltd. acquired a new position in Itaú Unibanco Holding S.A. (NYSE:ITUB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,977 shares of the bank’s stock, valued at approximately $113,000.

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Itaú Unibanco by 67.0% during the 1st quarter. GAMMA Investing LLC now owns 4,375 shares of the bank’s stock valued at $30,000 after buying an additional 1,755 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 period. Bessemer Group Inc. bought a new stake in shares of Itaú Unibanco in the 1st quarter worth about $49,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Itaú Unibanco in the 2nd quarter worth about $65,000. Finally, Daymark Wealth Partners LLC purchased a new position in shares of Itaú Unibanco during the 3rd quarter worth about $68,000.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut Itaú Unibanco from a “buy” rating to a “neutral” rating in a research note on Thursday, August 22nd.

Itaú Unibanco Price Performance

NYSE ITUB opened at $6.23 on Thursday. The company has a market cap of $61.06 billion, a PE ratio of 8.42, a P/E/G ratio of 0.80 and a beta of 0.97. Itaú Unibanco Holding S.A. has a 52-week low of $5.27 and a 52-week high of $7.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $6.28.

Itaú Unibanco (NYSE:ITUB) last released its quarterly earnings results on Tuesday, August 6th. The bank reported $0.20 earnings per share for the quarter, beating 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 business had revenue of $16.54 billion for the quarter, compared to analysts’ expectations of $7.72 billion. During the same period last year, the business earned $0.18 EPS. Sell-side analysts forecast that Itaú Unibanco Holding S.A. will post 0.78 EPS for the current fiscal year.

Itaú Unibanco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 2nd will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. Itaú Unibanco’s dividend payout ratio is presently 4.05%.

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.