Itaú Unibanco Holding S.A. (NYSE:ITUB) Shares Acquired by Channing Global Advisors LLC

Channing Global Advisors LLC increased its stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,884 shares of the bank’s stock after acquiring an additional 34,505 shares during the period. Itaú Unibanco makes up 1.0% of Channing Global Advisors LLC’s investment portfolio, making the stock its 26th largest position. Channing Global Advisors LLC’s holdings in Itaú Unibanco were worth $1,257,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ITUB. New York State Common Retirement Fund acquired a new position in Itaú Unibanco during the fourth quarter valued at approximately $23,769,000. HTLF Bank purchased a new stake in shares of Itaú Unibanco during the fourth quarter valued at approximately $83,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Itaú Unibanco by 54.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock valued at $56,000 after purchasing an additional 2,838 shares during the period. Wealth Alliance raised its stake in shares of Itaú Unibanco by 16.2% during the fourth quarter. Wealth Alliance now owns 62,095 shares of the bank’s stock valued at $432,000 after purchasing an additional 8,648 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Itaú Unibanco by 43.2% during the fourth quarter. Mackenzie Financial Corp now owns 41,341 shares of the bank’s stock valued at $287,000 after purchasing an additional 12,480 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HSBC lowered shares of Itaú Unibanco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America upgraded shares of Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Tuesday, January 16th.

Itaú Unibanco Stock Up 2.8 %

ITUB stock traded up $0.17 during trading on Friday, hitting $6.28. 10,471,091 shares of the company’s stock traded hands, compared to its average volume of 17,137,619. The company has a quick ratio of 1.58, a current ratio of 1.59 and a debt-to-equity ratio of 2.25. Itaú Unibanco Holding S.A. has a 52 week low of $4.85 and a 52 week high of $7.27. The stock has a fifty day moving average price of $6.70 and a two-hundred day moving average price of $6.45.

Itaú Unibanco (NYSE:ITUB) last released its earnings results on Monday, February 5th. The bank reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Itaú Unibanco had a net margin of 10.48% and a return on equity of 17.76%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $8.05 billion. Research analysts predict that Itaú Unibanco Holding S.A. will post 0.82 earnings per share for the current year.

Itaú Unibanco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.003 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.04 annualized dividend and a yield of 0.57%. Itaú Unibanco’s payout ratio is 5.88%.

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.