NewEdge Wealth LLC Buys New Shares in Itaú Unibanco Holding S.A. (NYSE:ITUB)

NewEdge Wealth LLC bought a new stake in Itaú Unibanco Holding S.A. (NYSE:ITUB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,112 shares of the bank’s stock, valued at approximately $244,000.

Several other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates grew its position in Itaú Unibanco by 296.9% during the 1st quarter. Raymond James & Associates now owns 153,645 shares of the bank’s stock worth $877,000 after purchasing an additional 114,929 shares during the period. Bank of New York Mellon Corp grew its position in Itaú Unibanco by 48.8% during the 1st quarter. Bank of New York Mellon Corp now owns 34,975 shares of the bank’s stock worth $199,000 after purchasing an additional 11,468 shares during the period. BlackRock Inc. grew its position in Itaú Unibanco by 41.4% during the 1st quarter. BlackRock Inc. now owns 37,984,762 shares of the bank’s stock worth $216,894,000 after purchasing an additional 11,129,486 shares during the period. Cibc World Market Inc. acquired a new stake in Itaú Unibanco during the 1st quarter worth about $103,000. Finally, Blair William & Co. IL grew its position in Itaú Unibanco by 31.0% during the 1st quarter. Blair William & Co. IL now owns 35,013 shares of the bank’s stock worth $200,000 after purchasing an additional 8,285 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America raised Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, January 16th. HSBC cut Itaú Unibanco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Itaú Unibanco Stock Down 0.3 %

NYSE:ITUB opened at $6.03 on Friday. Itaú Unibanco Holding S.A. has a 52 week low of $4.85 and a 52 week high of $7.27. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.58 and a current ratio of 1.59. The stock’s 50-day moving average price is $6.77 and its 200-day moving average price is $6.42.

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

Itaú Unibanco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be paid a $0.003 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Thursday, May 2nd. Itaú Unibanco’s dividend payout ratio is presently 5.88%.

About Itaú Unibanco

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.