Moran Wealth Management LLC Has $6.56 Million Stake in Itau Unibanco Holding S.A. $ITUB

Moran Wealth Management LLC grew its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 916,740 shares of the bank’s stock after purchasing an additional 69,293 shares during the period. Moran Wealth Management LLC’s holdings in Itau Unibanco were worth $6,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITUB. Orbis Allan Gray Ltd grew its position in Itau Unibanco by 104.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 84,543,938 shares of the bank’s stock worth $574,053,000 after purchasing an additional 43,153,787 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Itau Unibanco by 39.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 57,624,188 shares of the bank’s stock worth $422,962,000 after purchasing an additional 16,339,845 shares during the last quarter. Samlyn Capital LLC acquired a new stake in Itau Unibanco in the 3rd quarter worth $99,388,000. Boston Partners grew its position in Itau Unibanco by 1,667.7% in the 3rd quarter. Boston Partners now owns 12,413,727 shares of the bank’s stock worth $91,117,000 after purchasing an additional 11,711,487 shares during the last quarter. Finally, Tredje AP fonden acquired a new stake in Itau Unibanco in the 3rd quarter worth $53,024,000.

Analyst Upgrades and Downgrades

ITUB has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Itau Unibanco in a research report on Monday, December 29th. Zacks Research lowered shares of Itau Unibanco from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Itau Unibanco from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.00.

Insider Activity

In other news, insider Rodrigues Andre Luis Teixeira sold 182,800 shares of Itau Unibanco stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $8.82, for a total transaction of $1,612,296.00. Following the sale, the insider directly owned 1,637,511 shares in the company, valued at approximately $14,442,847.02. The trade was a 10.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fajerman Sergio Guillinet sold 20,000 shares of Itau Unibanco stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $9.45, for a total transaction of $189,000.00. Following the sale, the insider owned 1,245,119 shares in the company, valued at approximately $11,766,374.55. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 252,800 shares of company stock worth $2,270,296. 0.61% of the stock is owned by company insiders.

Itau Unibanco Price Performance

Shares of Itau Unibanco stock opened at $9.38 on Friday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.58 and a current ratio of 1.79. The firm’s 50-day simple moving average is $8.70 and its 200-day simple moving average is $7.83. Itau Unibanco Holding S.A. has a twelve month low of $5.46 and a twelve month high of $9.60. The firm has a market cap of $103.84 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.65.

Itau Unibanco (NYSE:ITUB) last issued its earnings results on Thursday, February 5th. The bank reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Itau Unibanco had a net margin of 20.64% and a return on equity of 20.83%. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.98 billion. As a group, research analysts expect that Itau Unibanco Holding S.A. will post 0.8 EPS for the current fiscal year.

Itau Unibanco Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.068 per share. The ex-dividend date is Monday, March 23rd. Itau Unibanco’s payout ratio is 4.29%.

About Itau Unibanco

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.