Vestmark Advisory Solutions Inc. Takes $244,000 Position in Itaú Unibanco Holding S.A. (NYSE:ITUB)

Vestmark Advisory Solutions Inc. bought a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 35,112 shares of the bank’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Itaú Unibanco during the 3rd quarter worth approximately $28,000. Lindbrook Capital LLC boosted its stake in Itaú Unibanco by 227.8% during the third quarter. Lindbrook Capital LLC now owns 5,133 shares of the bank’s stock worth $28,000 after acquiring an additional 3,567 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Itaú Unibanco in the fourth quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Itaú Unibanco by 54.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,098 shares of the bank’s stock valued at $56,000 after purchasing an additional 2,838 shares in the last quarter. Finally, TIAA Trust National Association acquired a new stake in shares of Itaú Unibanco in the 3rd quarter valued at about $62,000.

Itaú Unibanco Price Performance

Shares of NYSE ITUB opened at $6.53 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.25. The company has a 50-day moving average price of $6.58 and a 200-day moving average price of $6.52. Itaú Unibanco Holding S.A. has a 1 year low of $5.08 and a 1 year high of $7.27.

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

Itaú Unibanco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 3rd will be given a dividend of $0.003 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.55%. Itaú Unibanco’s payout ratio is 5.88%.

Analysts Set New Price Targets

Separately, Bank of America raised Itaú Unibanco from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Tuesday, January 16th.

Itaú Unibanco Company Profile

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.