Comerica Bank increased its position in Itau Unibanco Holding SA (NYSE:ITUB) by 3.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 226,330 shares of the bank’s stock after purchasing an additional 7,570 shares during the period. Comerica Bank’s holdings in Itau Unibanco were worth $3,643,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Harding Loevner LP lifted its holdings in shares of Itau Unibanco by 225.1% in the 3rd quarter. Harding Loevner LP now owns 193,057,699 shares of the bank’s stock valued at $774,895,000 after purchasing an additional 133,670,409 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Itau Unibanco by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 32,923,292 shares of the bank’s stock valued at $444,464,000 after purchasing an additional 627,005 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Itau Unibanco by 21.3% in the 3rd quarter. Baillie Gifford & Co. now owns 28,091,190 shares of the bank’s stock valued at $384,849,000 after purchasing an additional 4,924,628 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Itau Unibanco by 33.8% in the 4th quarter. Fisher Asset Management LLC now owns 25,914,919 shares of the bank’s stock valued at $336,894,000 after purchasing an additional 6,553,611 shares during the last quarter. Finally, Mondrian Investment Partners LTD lifted its holdings in shares of Itau Unibanco by 30.1% in the 4th quarter. Mondrian Investment Partners LTD now owns 22,372,140 shares of the bank’s stock valued at $290,838,000 after purchasing an additional 5,177,751 shares during the last quarter. 4.81% of the stock is owned by institutional investors and hedge funds.
ITUB has been the subject of several research reports. Deutsche Bank raised Itau Unibanco from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, December 11th. Zacks Investment Research downgraded Itau Unibanco from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub downgraded Itau Unibanco from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, ValuEngine raised Itau Unibanco from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.25.
The business also recently declared a monthly dividend, which will be paid on Thursday, April 12th. Investors of record on Friday, March 2nd will be given a $0.0046 dividend. This represents a $0.05 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, March 1st. Itau Unibanco’s dividend payout ratio (DPR) is presently 5.22%.
Itau Unibanco declared that its Board of Directors has initiated a stock buyback plan on Monday, December 18th that authorizes the company to repurchase 28,620,000 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Itau Unibanco Profile
Itau Unibanco Holding SA is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil and abroad. The Company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Retail Banking segment offers banking products and services to a diversified client base of account holders and non-account holders, individuals and companies.
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.