Nordea Investment Management AB Purchases 136,234 Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB)

Nordea Investment Management AB raised its position in shares of Itaú Unibanco Holding S.A. (NYSE:ITUBFree Report) by 25.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 677,122 shares of the bank’s stock after purchasing an additional 136,234 shares during the quarter. Nordea Investment Management AB’s holdings in Itaú Unibanco were worth $4,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Itaú Unibanco by 43.7% in the fourth quarter. Fisher Asset Management LLC now owns 52,322,490 shares of the bank’s stock worth $363,641,000 after acquiring an additional 15,908,536 shares during the period. Carmignac Gestion bought a new stake in shares of Itaú Unibanco in the fourth quarter worth approximately $92,644,000. New York State Common Retirement Fund bought a new stake in shares of Itaú Unibanco in the fourth quarter worth approximately $23,769,000. Wellington Management Group LLP bought a new stake in shares of Itaú Unibanco in the fourth quarter worth approximately $23,769,000. Finally, Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in shares of Itaú Unibanco in the fourth quarter worth approximately $22,802,000.

Itaú Unibanco Stock Performance

ITUB opened at $6.12 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.37. The company has a market cap of $59.98 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.75 and a beta of 0.97. The company’s 50 day moving average is $6.11 and its 200 day moving average is $6.50. Itaú Unibanco Holding S.A. has a 12-month low of $5.12 and a 12-month high of $7.27.

Itaú Unibanco (NYSE:ITUBGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The bank reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.34 billion. Itaú Unibanco had a net margin of 11.09% and a return on equity of 18.73%. On average, equities research analysts predict that Itaú Unibanco Holding S.A. will post 0.81 EPS for the current year.

Itaú Unibanco Increases Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 2nd will be issued a $0.0478 dividend. This is an increase from Itaú Unibanco’s previous Variable dividend of $0.00. The ex-dividend date is Friday, August 2nd. Itaú Unibanco’s dividend payout ratio (DPR) is presently 4.05%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded shares of Itaú Unibanco from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 17th.

Check Out Our Latest Report on ITUB

About Itaú Unibanco

(Free Report)

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.

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Institutional Ownership by Quarter for Itaú Unibanco (NYSE:ITUB)

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