Engineers Gate Manager LP Raises Stock Position in Itau Unibanco Holding S.A. $ITUB

Engineers Gate Manager LP grew its stake in Itau Unibanco Holding S.A. (NYSE:ITUB) by 19.5% in the 2nd quarter, Holdings Channel reports. The firm owned 878,443 shares of the bank’s stock after purchasing an additional 143,650 shares during the period. Engineers Gate Manager LP’s holdings in Itau Unibanco were worth $7,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Itau Unibanco by 11.7% during the first quarter. Royal Bank of Canada now owns 445,578 shares of the bank’s stock valued at $2,450,000 after purchasing an additional 46,608 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Itau Unibanco by 28.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,996,699 shares of the bank’s stock valued at $27,482,000 after buying an additional 1,107,607 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Itau Unibanco by 332.4% during the second quarter. EverSource Wealth Advisors LLC now owns 6,966 shares of the bank’s stock valued at $47,000 after buying an additional 5,355 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Itau Unibanco by 11.7% in the second quarter. Guggenheim Capital LLC now owns 118,405 shares of the bank’s stock worth $804,000 after acquiring an additional 12,442 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Itau Unibanco by 425.3% in the second quarter. First Trust Advisors LP now owns 356,467 shares of the bank’s stock worth $2,420,000 after acquiring an additional 288,602 shares in the last quarter.

Insider Activity

In other news, insider Vanzo Orestes sold 74,643 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $8.38, for a total transaction of $625,508.34. Following the sale, the insider owned 933,371 shares of the company’s stock, valued at $7,821,648.98. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

Itau Unibanco Trading Up 0.3%

Shares of NYSE:ITUB opened at $8.32 on Friday. The company has a market cap of $92.20 billion, a P/E ratio of 10.89, a PEG ratio of 1.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.08 and a quick ratio of 1.08. Itau Unibanco Holding S.A. has a 1 year low of $6.54 and a 1 year high of $9.60. The stock’s fifty day moving average price is $8.02 and its 200-day moving average price is $8.20.

Itau Unibanco (NYSE:ITUB) last released its quarterly earnings data on Tuesday, August 4th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Itau Unibanco had a return on equity of 21.40% and a net margin of 26.41%.The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.29 billion. Sell-side analysts expect that Itau Unibanco Holding S.A. will post 0.87 earnings per share for the current year.

Analysts Set New Price Targets

ITUB has been the subject of several analyst reports. Weiss Ratings downgraded Itau Unibanco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Itau Unibanco from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Itau Unibanco has an average rating of “Moderate Buy” and a consensus target price of $10.00.

About Itau Unibanco

Itaú Unibanco Holding SA is one of Brazil’s largest financial institutions and provides banking and financial services to individuals, companies and institutional clients. Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, insurance, payment solutions, foreign exchange and investment products.

The company also operates businesses in investment banking, corporate and treasury services, asset management, private banking and wealth management.