BTG Pactual Global Asset Management Ltd Invests $6.97 Million in Itaú Unibanco Holding S.A. (NYSE:ITUB)

BTG Pactual Global Asset Management Ltd acquired a new position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,181,390 shares of the bank’s stock, valued at approximately $6,970,000. Itaú Unibanco makes up 1.5% of BTG Pactual Global Asset Management Ltd’s holdings, making the stock its 7th largest position.

Other hedge funds also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in shares of Itaú Unibanco during the second quarter valued at approximately $30,000. Natixis bought a new stake in shares of Itaú Unibanco during the fourth quarter valued at approximately $38,000. Penserra Capital Management LLC bought a new stake in shares of Itaú Unibanco during the fourth quarter valued at approximately $41,000. Psagot Value Holdings Ltd. Israel bought a new position in Itaú Unibanco in the first quarter valued at approximately $43,000. Finally, PDS Planning Inc bought a new position in Itaú Unibanco in the first quarter valued at approximately $53,000.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on shares of Itaú Unibanco in a research note on Monday, October 16th. They issued a “hold” rating and a $6.10 price objective on the stock.

Itaú Unibanco Stock Performance

ITUB stock traded up $0.01 during midday trading on Friday, reaching $6.21. The company’s stock had a trading volume of 11,317,100 shares, compared to its average volume of 22,917,152. Itaú Unibanco Holding S.A. has a 52 week low of $4.21 and a 52 week high of $6.26. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.58 and a quick ratio of 1.58. The business’s 50-day simple moving average is $5.55 and its 200-day simple moving average is $5.60.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 2nd will be paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This is a boost from Itaú Unibanco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 0.67%. Itaú Unibanco’s dividend payout ratio (DPR) is presently 4.76%.

Itaú Unibanco 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.