VectorGlobal IAG Inc. Acquires Shares of 1,059,024 Itau Unibanco Holding S.A. $ITUB

VectorGlobal IAG Inc. acquired a new position in shares of Itau Unibanco Holding S.A. (NYSE:ITUB) during the first quarter, Holdings Channel reports. The fund acquired 1,059,024 shares of the bank’s stock, valued at approximately $8,875,000. Itau Unibanco comprises about 2.3% of VectorGlobal IAG Inc.’s investment portfolio, making the stock its 20th biggest position.

Several other institutional investors have also recently made changes to their positions in ITUB. Carmignac Gestion raised its holdings in shares of Itau Unibanco by 20.7% in the first quarter. Carmignac Gestion now owns 8,630,222 shares of the bank’s stock valued at $72,321,000 after purchasing an additional 1,477,637 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Itau Unibanco by 155.5% during the first quarter. Bank of America Corp DE now owns 10,522,224 shares of the bank’s stock valued at $88,176,000 after purchasing an additional 6,404,438 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Itau Unibanco during the first quarter worth about $364,000. Amundi boosted its holdings in Itau Unibanco by 18.6% during the first quarter. Amundi now owns 4,002,998 shares of the bank’s stock worth $33,545,000 after purchasing an additional 628,820 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Itau Unibanco by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 9,441 shares of the bank’s stock worth $79,000 after purchasing an additional 1,306 shares in the last quarter.

Insiders Place Their Bets

In other Itau Unibanco news, insider Vanzo Carlos Orestes sold 60,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $8.24, for a total value of $494,400.00. Following the transaction, the insider directly owned 1,008,014 shares in the company, valued at $8,306,035.36. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Itau Unibanco Trading Up 0.2%

Shares of Itau Unibanco stock opened at $8.47 on Monday. The firm has a market cap of $93.87 billion, a PE ratio of 11.62, a P/E/G ratio of 0.91 and a beta of 0.58. Itau Unibanco Holding S.A. has a 1 year low of $6.00 and a 1 year high of $9.60. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a fifty day moving average price of $8.08 and a 200-day moving average price of $8.36.

Itau Unibanco (NYSE:ITUB) last issued its quarterly earnings results on Tuesday, May 5th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The company had revenue of $9.01 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Itau Unibanco had a return on equity of 21.27% and a net margin of 27.27%. Equities research analysts anticipate that Itau Unibanco Holding S.A. will post 0.89 EPS for the current year.

Itau Unibanco Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, June 22nd will be given a $0.068 dividend. The ex-dividend date of this dividend is Monday, June 22nd. Itau Unibanco’s payout ratio is currently 4.11%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Itau Unibanco in a research note on Wednesday, June 17th. JPMorgan Chase & Co. boosted their target price on Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Itau Unibanco Company Profile

Itaú Unibanco SA (NYSE: ITUB) is a Brazilian banking and financial services conglomerate headquartered in São Paulo. The company was formed by the merger of Banco Itaú and Unibanco in 2008 and is one of the largest private-sector banks in Brazil and among the leading banks in Latin America. Itaú Unibanco is publicly listed in Brazil and maintains an international listing on the New York Stock Exchange.

The bank offers a full range of financial products and services across retail, commercial and wholesale banking.