BNP Paribas Arbitrage SA Boosts Stock Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

BNP Paribas Arbitrage SA increased its holdings in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,277,334 shares of the bank’s stock after buying an additional 415,684 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Itaú Unibanco were worth $19,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sageworth Trust Co purchased a new position in Itaú Unibanco during the first quarter valued at approximately $36,000. SRS Capital Advisors Inc. acquired a new position in shares of Itaú Unibanco in the second quarter worth about $46,000. Platinum Investment Management Ltd. grew its position in shares of Itaú Unibanco by 44.5% during the 1st quarter. Platinum Investment Management Ltd. now owns 9,805 shares of the bank’s stock valued at $49,000 after acquiring an additional 3,021 shares during the period. Veritable L.P. acquired a new position in Itaú Unibanco in the 1st quarter worth about $54,000. Finally, Atlas Capital Advisors LLC boosted its position in Itaú Unibanco by 41.0% during the second quarter. Atlas Capital Advisors LLC now owns 13,053 shares of the bank’s stock worth $78,000 after purchasing an additional 3,797 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company’s stock.

Separately, Zacks Investment Research upgraded Itaú Unibanco from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Thursday, July 29th.

Shares of Itaú Unibanco stock opened at $5.24 on Friday. The firm has a market cap of $51.35 billion, a PE ratio of 9.89 and a beta of 0.83. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.83. Itaú Unibanco Holding S.A. has a 52 week low of $3.88 and a 52 week high of $6.76. The business’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $5.49.

Itaú Unibanco (NYSE:ITUB) last posted its earnings results on Monday, August 2nd. The bank reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Itaú Unibanco had a net margin of 17.21% and a return on equity of 17.09%. The company had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.19 billion. As a group, equities analysts expect that Itaú Unibanco Holding S.A. will post 0.51 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 12th. Investors of record on Monday, October 4th will be given a dividend of $0.0029 per share. The ex-dividend date of this dividend is Friday, October 1st. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Itaú Unibanco’s previous monthly dividend of $0.00. Itaú Unibanco’s dividend payout ratio (DPR) is presently 7.50%.

About Itaú Unibanco

Itaú Unibanco Holding SA provides financial products and services to individual and corporate clients in Brazil and abroad. It operates through the following segments: Retail Banking, Wholesale Banking, and Activities with the Market and Corporation. The Retail Banking segment includes credit cards, asset management, insurance, pension plan and capitalization products, and a variety of credit products and services for individuals and small companies.

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Institutional Ownership by Quarter for Itaú Unibanco (NYSE:ITUB)

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