Stevens Capital Management LP acquired a new position in shares of Itau Unibanco Holding SA (NYSE:ITUB) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 74,217 shares of the bank’s stock, valued at approximately $654,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC bought a new position in Itau Unibanco during the first quarter worth about $140,000. Flossbach Von Storch AG boosted its position in Itau Unibanco by 180.0% during the first quarter. Flossbach Von Storch AG now owns 70,000 shares of the bank’s stock worth $617,000 after purchasing an additional 45,000 shares during the period. Parallel Advisors LLC bought a new position in Itau Unibanco during the first quarter worth about $34,000. SeaTown Holdings Pte. Ltd. bought a new position in Itau Unibanco during the first quarter worth about $4,499,000. Finally, Bristol Advisors LLC bought a new position in Itau Unibanco during the first quarter worth about $280,000. Hedge funds and other institutional investors own 4.77% of the company’s stock.
A number of equities analysts have weighed in on the stock. HSBC upgraded shares of Itau Unibanco from a “reduce” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded shares of Itau Unibanco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Itau Unibanco from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Bank of America lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 5th. Seven investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $12.00.
Shares of Itau Unibanco stock traded up $0.05 on Friday, reaching $7.84. The stock had a trading volume of 11,468,313 shares, compared to its average volume of 15,603,150. Itau Unibanco Holding SA has a 1 year low of $6.57 and a 1 year high of $10.80. The company has a market cap of $77.03 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.09 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.52.
The company also recently declared a monthly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 4th will be issued a $0.0038 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, June 3rd. Itau Unibanco’s payout ratio is 7.58%.
ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Macon Daily and is the property of of Macon Daily. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://macondaily.com/2019/05/17/stevens-capital-management-lp-takes-position-in-itau-unibanco-holding-sa-itub.html.
About Itau Unibanco
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
Further Reading: How does the Beige Book influence monetary policy?
Want to see what other hedge funds are holding ITUB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itau Unibanco Holding SA (NYSE:ITUB).
Receive News & Ratings for Itau Unibanco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itau Unibanco and related companies with MarketBeat.com's FREE daily email newsletter.