Menora Mivtachim Holdings LTD. increased its holdings in Itau Unibanco Holding SA (NYSE:ITUB) by 143.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,775,000 shares of the bank’s stock after buying an additional 2,225,000 shares during the period. Menora Mivtachim Holdings LTD.’s holdings in Itau Unibanco were worth $41,450,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Point View Wealth Management Inc. purchased a new position in Itau Unibanco in the second quarter worth $106,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Itau Unibanco by 143.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the bank’s stock worth $110,000 after purchasing an additional 5,889 shares during the last quarter. MML Investors Services LLC purchased a new position in Itau Unibanco in the third quarter worth $117,000. Global Thematic Partners LLC purchased a new position in Itau Unibanco in the third quarter worth $125,000. Finally, Iberiabank Corp purchased a new position in Itau Unibanco in the third quarter worth $154,000. 5.83% of the stock is owned by institutional investors.
ITUB has been the topic of several analyst reports. Citigroup lowered shares of Itau Unibanco from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. ValuEngine lowered shares of Itau Unibanco from a “sell” rating to a “strong sell” rating in a report on Thursday, September 13th. Zacks Investment Research lowered shares of Itau Unibanco from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Morgan Stanley raised shares of Itau Unibanco from an “underweight” rating to an “equal weight” rating in a report on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Itau Unibanco has a consensus rating of “Hold” and a consensus price target of $16.50.
Itau Unibanco (NYSE:ITUB) last announced its quarterly earnings data on Monday, October 29th. The bank reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.96 billion. Itau Unibanco had a net margin of 15.44% and a return on equity of 17.22%. Sell-side analysts anticipate that Itau Unibanco Holding SA will post 1.06 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, January 14th. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.0039 per share. The ex-dividend date is Monday, December 3rd. This is a positive change from Itau Unibanco’s previous monthly dividend of $0.00. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.35%. Itau Unibanco’s payout ratio is 4.39%.
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Itau Unibanco Company Profile
Itaú Unibanco Holding SA provides a range of financial products and services to individuals and corporate clients in Brazil and internationally. The company operates in three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It accepts demand, savings, and time deposits; and offers payroll, mortgage, personal, vehicle, and corporate loans, as well as very small, small, and middle market loans.
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